Binance, one of the world’s leading cryptocurrency exchanges, has made a strategic decision to discontinue the acceptance of Russian ruble (RUB) deposits, effective November 15, 2023. This move is a part of Binance’s larger plan to sell its operations in Russia to CommEX, marking a significant transition in its global operations. While RUB deposits will no longer be facilitated after the specified date, Binance users can still withdraw their Russian ruble holdings until January 31, 2024.
To streamline the process for users during this transition, Binance has introduced several options. Users are encouraged to withdraw RUB through Binance’s fiat partners or convert it into various cryptocurrencies using Binance Convert. Alternatively, users can engage in trading activities on the Binance Spot market with their RUB holdings.
In a bid to provide a seamless transfer experience, Binance advises users to register for a CommEX account and link it to their existing Binance account. This will allow users to transfer funds to CommEX without incurring additional fees, ensuring a smooth financial transition.
It is crucial to note that in cases where translations deviate from the original English version, the English rendition will take precedence. Binance’s strategic decision to cease RUB deposits aligns with its commitment to maintaining clarity and user-focused solutions during this operational shift.