Binance CEO: 'Russia Is Our Key Market'

MOSCOW - The line for selfies with Binance CEO Changpeng Zhao seemed endless, even though it was the second photo op of the night.

"Russia is our key market, one of the most active markets in the global blockchain space."

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

Further, Binance is looking to bring its stablecoin project, Venus, to Russia.

"In every location we're doing that, in Russia specifically, we're looking for those partners as well."

Without naming names, CZ said Binance is in talks with banks and acquiring services in Russia to provide a fiat gateway for the ruble.

The ruble deposits were expected to be up and running already, CZ said, but technical issues delayed the launch by a couple of weeks - Binance is tentatively planning it for early November now.

CZ said he's happy with the performance of the new subsidiary, Binance U.S., which opened in September.

The Nevada-licensed trust company Prime Trust provides the fiat on-ramp and banking relationship for Binance U.S., CZ said.

The futures platform has been gathering speed during its first months of existence, even surpassing Binance's bitcoin spot market on some days.