Binance’s Changpeng Zhao Declares Russia as a Key Market

Binance CEO, Changpeng Zhao believes Russia is a key market for the exchange. The cryptocurrency big whale revealed during his visit to the Radisson hotel in central Moscow on October 21, 2019.

Zhao Speaks About Russia’s Relevance to Binance

It was the CEO’s first visit to Russia and his popularity in the crypto world came to the fore once again, as he spent over half an hour smiling and shaking hands with over 700 people who turned out to the meet-up.

Changpeng Zhao said in his speech at the concert:

“We are always looking for partners in any community, especially in Russia. Russia is our key market, one of the most active markets in the global blockchain space.”

Vladimir Putin’s Possible Influence on Crypto in the Future

The Binance CEO was asked who he believes would have the most influence on crypto in the future and he gave an answer that attracted laughter from the audience by mentioning Vladimir Putin, Russia’s president.

“In America, the regulators are very distributed, and China is not going to move anytime soon,”

“There is a potential bill in Russia that may pass very soon, and it will be a good thing for the industry.”

Binance Plans to Establish Developers’ Office in Russia

He also revealed his plans to open an office in the country. He said:

“There is a very strong programmer talent here. On this trip, it is very clear to me that we should look into the developers’ office, not the commercial office, not just yet.”

Meanwhile, as reported by BTCManager on October  21, 2019, Binance announced its support for a fiat-to-crypto on-ramp for the Russian Ruble. According to the announcement, the company has plans to support more currencies, with its roots firmly set in the Asian regions.

That news came after the Malta-based Cryptocurrency exchange revealed that it is increasing the platform’s trading leverage to 125x which comes along with the launching of a leverage adjustment function that was established earlier.

“We have seen an increase in institutional participation in trading, and they are flocking to Binance Futures. The market has been demanding  a product with superior stability and performance; now we are providing one.” Changpeng Zhao said of the development.