Blockchain.com Plans To Support Russia’s National Currency “Ruble”
Blockchain.com Plans To Support Russia’s National Currency “Ruble”
May 22, 2020
Blockchain.com Plans To Support Russia’s National Currency “Ruble”
Blockchain.com Plans To Support Russia’s National Currency “Ruble”
May 22, 2020

Blockchain.com, a major cryptocurrency wallet and blockchain data provider, plans to support ruble (RUB), the national currency of Russia, though major exchange such as Binance has introduced the Russian ruble, there is still no law authorizing circulation of crypto in Russia.

On May 20, it has been reported that Blockchain.com announced its long-term roadmap, “The next era of crypto and 1B wallets by 2030.” In a post authored by Peter Smith, the CEO and co-founder of Blockchain.com, the firm highlighted the addition of the Russian ruble as part of its mission to grow its current user base of about 50 million crypto wallets to 1 billion accounts by 2030.

However, according to the post, Blockchain.com will launch Russian ruble support “in the coming weeks,” as the planned launch comes in response to an apparent demand to trade crypto from a large number of Russian users on Blockchain.com.

The firm said:

“We’ll be one of only a handful of exchanges that support the Russian Ruble. Russian users already make up a large portion of our traffic and exchange volume. We’re excited to make it easier for Russian users to trade crypto in their local currency.”

Smith explained that the Russian ruble will become the fifth supported fiat currency on Blockchain.com.

ALSO READ :  Department of Defense Continues to Explore Ways to Innovate Supply Chain for the US Military’s Weaponry

Russia’s national currency will join:

  • The United States dollar
  • The British pound
  • Euro  
  • The Turkish lira

Blockchain.com is one of the world’s largest crypto companies, responsible for 27% of all Bitcoin (BTC) transactions since 2012. The firm’s decision to list the Russian ruble comes soon after Binance, the world’s largest crypto exchange, silently launched fiat ruble trading in October 2019.

At the time, Changpeng Zhao (CZ), the CEO of Binance, said that Russia was among the top 10 markets for Binance.

Thus, Blockchain.com’s ruble listing news comes soon after another United Kingdom-based crypto firm Wirex enabled a new crypto feature for Russian people on May 19, as it announced the launch of crypto purchases with fiat credit and debit cards in Russia.

Source: Cointelegraph | Image: Reuters


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Cypherpunk Holdings Increases Its Stake In Bitcoin

Cypherpunk Holdings Increases Its Stake In Bitcoin

Cypherpunk Holdings (CSE:HODL), a privacy-focused Canadian investment company, has increased its stake in Bitcoin (BTC).  It has been reported that the company revealed that it has added 72.979 BTC to its reserves...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.