Binance Tenge and Hryvnia crypto trading pairs on the cards

Binance Tenge and Hryvnia crypto trading pairs on the cards

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Binance Tenge and Hryvnia fiat-crypto trading pairs will be launched soon on the exchange. Cryptocurrency exchange, Binance, is supposedly planning to add support for Ukraine and Kazakhstan fiat currencies on its platform. In a move that would further expand the exchange’s reach in Eastern Europe, Binance will look towards adding a somewhat untapped fiat-crypto pair to its offerings.

More market offerings will also help increase its user base into relatively less known countries. The announcement comes after Binance recently added support for Nigerian Naira through Flutterware. Flutterware has offices in both the United States and Nigeria, and it provides local payment gateway services. Russian Ruble is another recent entrant in the Binance’s fiat-crypto realm.

Binance Tenge and Hryvnia pairs will touch developing markets

Tenge of Kazakhstan and Hryvnia of Ukraine will be offered through the exchange’s trading facility. The arrangements will be made to provide the crypto pairs to all the trading terminals. These pairs will further help more people from both these countries enter the crypto trading realm through the exchange.

The exchange further clarified that more crypto-fiat ramps will be added in the near future. As Binance looks to maintain its top spot in the crypto exchange realm, the addition of a few more currencies will undoubtedly boost its credibility in a new market. And in its quest to reach its aim of crypto trading dominance, Binance’s partners, including AdvCash, Koinal, Paxos, etc. have also upped up their efforts.

Binance now focusing on developing countries

The fiat-crypto trading realm is witnessing tremendous growth, and Binance wants a piece of this cake. However, there is saturation in the developed markets. So, it is turning its focus towards the developing markets. Binance Tenge and Hryvnia pairs will undoubtedly make it interesting.

Ever since the U.S. arm of Binance has re-started operations this year, the exchange has been on an aggressive expansion spree. It wants to tap into the upcoming boom in the cryptocurrency arena due to the increasing mass-adoption patterns in the blockchain technology. Developing countries being highly populated also represent a vast potential market. With the right fiat-crypto pairs, it can certainly present a viable financial solution to the residents of developing countries.

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Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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