Binance Exchange Adds New XRP and ETH Fiat Pairs

News / 25.12.2019

Binance exchange has announced the addition of new XRP and ETH trading pairs to its platform. The Malta-based exchange is going to provide support for three fiat pairs with Turkish Lara (TRY) that feature ETH, XRP and USDT. In addition, the users on the exchange can now trade USDT against the Russian Ruble (RUB).

During the previous Christmas, Binance added XRP as a base currency and renamed its ETH market to simply the “ALTS market”. Last month, the Turkish Lara became the latest fiat currency on the exchange by trading volumes. Binance only allowed its customers to use BTC to purchase ETH and XRP through Turkey-based payment company, Papara.

Before that, Binance enabled support for five other fiat currencies, and Euro (EUR) was one of them. Over the past few months, the exchange’s expansion into fiat-to-crypto trading sector has been remarkable.

Apart from adding the fiat pairs to the exchange platform, the company also opened multiple fiat exchanges in many parts of the world including Uganda.

However, the company is yet to conquer the American crypto market. Its US-based arm, Binance.US, which started operating in late September, has so far failed to gain significant traction. Its trading volumes are disappointing and clearly can’t compete with Coinbase, which continues to reign supreme on its home grounds.

 

Featured image courtesy of Shutterstock. Source: Cryptopress

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Holds a degree in BSc. Nursing from the University of Cape Coast, Ghana yet an addict to the blockchain technology and the cryptosphere. He combines the promotion of crypto projects and also the making of professional contents all to get innovative projects to the real world. He is a passionate Community manager and a Marketing Advisor for blockchain startups.