Main navigation

XRP and Ethereum Fiat Pairs Added by Crypto Exchange Binance

News
Wed, 12/25/2019 - 07:30
article image
Alex Dovbnya
Leading cryptocurrency exchange Binance has announced the addition of new trading pairs with XRP and Ethereum to its platform
XRP and Ethereum Fiat Pairs Added by Crypto Exchange Binance
Cover image via 123rf.com
Read U.TODAY on
Google News

Malta-based cryptocurrency exchange Binance has announced support for three fiat pairs with the Turkish Lira (TRY) that feature Ethereum (ETH), XRP, and leading stablecoin Tether (USDT). To top that off, the exchange's users can now trade USDT against the Russian Ruble (RUB).

Last Christmas, Binance added XRP as a base currency and renamed its ETH market to simply the ALTS market.         

Related
Binance Acquires Leading Indian Crypto Exchange

Back in November, the Turkish Lira became the latest fiat currency to land on the number one exchange by trading volumes. Binance only allowed its customers to use Bitcoin to purchase BTC, ETH, and XRP via Turkey-based payment company Papara. 

Prior to that, Binance enabled support for five other fiat currencies, including Euro (EUR). Over the last few months, the company's expansion into the fiat-to-crypto trading sector has been nothing short of remarkable. 

Binance
image by @cz_binance

Apart from adding the fiat pairs to binance.com, the company also opened multiple fiat exchanges around in Singapore, Uganda, and other parts of the world.   

Related
Binance CEO Changpeng Zhao Denies Opening Office in Beijing

However, Binance is yet to conquer the American market. Its US-based arm, which kicked off trading in late September under the leadership of former Ripple executive Catherine Coley, has so far failed to gain significant traction. Its trading volumes remain underwhelming at best and clearly can't hold a candle to Coinbase, which continues to reign supreme on its home turf.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.