BAKU, Azerbaijan, February 2. The crypto market is stable and ready for any challenges and tasks it might face, Vladimir Smerkis, Binance's General Manager for Russia and the CIS said during an interview with Azerbaijani media outlets, Trend reports.
"Cryptocurrency, just like other financial tools, may be affected by the state of the market both positively and negatively. The instability that is observed in the financial market surely reflects on the cryptocurrency," he said.
Smerkis noted that the majority of countries have just started to introduce cryptocurrency payments.
"Currently, not many countries allow official purchases via cryptocurrency like it is allowed in El Salvador, for example. Moreover, we have the Binance Card, which is available in Europe and Argentina. We are currently working on expanding the list of countries," he said.
Smerkis added that with the help of Visa or MasterCard cards, the cryptocurrency available on the balance when making payments is automatically converted into the currency in which the payment is made.
"In addition, our corporate clients allow their clients to receive payments from the Binance account," he said.
Furthermore, it is possible to legally pay for a movable and real estate property, as well as close various kinds of transactions, in various countries across the world.
"At the moment, an increasing number of countries are incorporating cryptocurrency and establishing the necessary legal framework. For instance, among the countries that have applied for registration in the Binance system are Spain, France, the UAE, Bahrain, Kazakhstan, and others," he added.
Binance is the world’s leading blockchain ecosystem, with a product suite that includes the largest digital asset exchange.