Binance News: Binance Adds Spot Trading Pairs For Bonk, Floki, Fantom & Others

Highlights

Binance has introduced several new spot trading pairs today.
The concerned altcoins include popular options like Floki, Bonk, and Fantom.
Binance also entered into a collaboration with the Global Travel Rule Alliance.

Binance the world’s leading cryptocurrency exchange, has announced the introduction of several new trading pairs and bot services. The decision is taken in a bid to enhance the trading experience for its users. The move concerns Bonk (BONK), Floki (FLOKI), Fantom (FTM), Maker (MKR), Render (RNDR), and Raydium (RAY).

Binance Announces New Spot Trading Listing

Scheduled to commence on March 27, 2024, at 13:00 p.m. UTC these additions aim to diversify trading options and provide innovative tools for traders. The newly introduced trading pairs on Binance Spot include BONK/USDC, FLOKI/USDC, FTM/USDC, MKR/TRY, RAY/TRY, and RNDR/BRL.

Moreover, Binance will launch bot services for select trading pairs, catering to different trading strategies. According to the latest announcement, Spot Grid, Spot DCA & Rebalancing Bot services will be available for the ETHFI/USDT pair on Binance.

Meanwhile, Spot Algo Orders services will be introduced for BONK/USDC, FLOKI/USDC, FTM/USDC, MKR/TRY, RAY/TRY, and RNDR/BRL pairs. These automated trading tools are designed to assist users in executing trades efficiently and implementing predefined strategies.

However, it is essential to note that the availability of these trading pairs and bot services is subject to eligibility based on the user’s country or region of residence. Binance emphasizes the importance of completing account verification to ensure compliance with regulatory requirements and trading eligibility criteria.

Furthermore, the Binance exchange has provided a list of restricted countries and regions where users will not be able to participate in spot trading activities. The current list includes Canada, Cuba, Crimea Region, Iran, Japan, Netherlands, North Korea, Syria, the United States of America, and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), as well as any non-government controlled areas of Ukraine.

Also Read: Binance Joins Global Travel Rule Alliance To Strengthen Crypto Security

Entery Into Global Travel Rule Alliance

The Binance crypto exchange garnered attention from investors on Tuesday, March 26, following its announcement of joining the Global Travel Rule (GTR) Alliance. The decision was widely praised, particularly given the recent security concerns within the digital asset sector.

In essence, Binance’s choice to become part of the Global Travel Rule (GTR) Alliance highlights its commitment to promoting compliance and security in the crypto industry. By aligning with the Financial Action Task Force’s (FATF) Recommendation 16, also known as the Travel Rule, Binance aims to establish a universal standard for regulatory adherence. Furthermore, this move is significant in dispelling misunderstandings surrounding cryptocurrencies and fostering broader acceptance of digital assets.

Steve Christie, Deputy Chief Compliance Officer at Binance, expressed optimism for the latest development. He said, “Joining the Global Travel Rule Alliance is an exciting step forward in solidifying our international compliance efforts. This move doesn’t just bring us into alignment with FATF’s global standards – it’s about proactively providing our extensive user base with the assurance that their data and transactions are secure.”

Also Read: Binance’s Russia Exit Deepens, CommEx Announces Closure

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