In a significant expansion of its cryptocurrency offerings, Binance, the world's leading cryptocurrency exchange, has announced the addition of three new trading pairs to its extensive list of cryptocurrencies. Binance has announced the listing of three new pairs of MultiversX (EGLD), Phoenix (PHB) and Reserve Rights (RSR) denominated in fiat currency Turkish Lira (TRY). This move marks a strategic embrace of Turkey's burgeoning crypto market and reflects Binance's commitment to catering to the diverse needs of its global user base. In a blog post, Binance says it will open trading for the EGLD/TRY, PHB/TRY and RSR/TRY trading pairs on May 8, 2024, at 8:00 a.m. (UTC) to expand the list of trading choices offered on Binance Spot and also enhance users’ trading experience. Binance will also be enabling Trading Bots services for the aforementioned trading pairs on the same date. The announcement follows as the Turkish Lira (TRY) has seen a surge in crypto trading volume, emerging as a dominant fiat trading pair on Binance in Q4, 2023. The addition of these new pairs is expected to further solidify this trend, offering Turkish traders more flexibility and direct access to the crypto market without the need for intermediary currency conversions.
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Details The recent listing move marks a significant step forward for the exchange as it continues to grow its platform and provide users with access to a diverse range of digital assets. In another batch of listings, Binance Futures will be launching on April 18 the ARBUSDC and NEOUSDC Perpetual Contract, both with up to 50x leverage, and the FILUSDC Perpetual Contract with up to 75x leverage. In a significant milestone, Binance US has welcomed Martin C. Grant, former New York Fed Chief Compliance and Ethics Officer, to its board. Grant, who has over three decades of regulatory, legal and compliance experience in government and the digital asset market, will help Binance expand its compliance-first strategy and manage financial reporting systems and internal controls.