Binance Becomes First Crypto Member to Russia’s Bank Association

The world’s largest cryptocurrency exchange would lead the association’s “Expert Center” to ensure a dialogue with federal authorities.

Binance Joins Association of Russian Banks

Cryptocurrency exchange Binance has become the first exchange platform to collaborate with the Association of Russian Banks. The leading crypto exchange would contribute its expertise to Russian financial institutions as it ventures into the crypto space. 

Binance’s partnership aids the establishment of an Expert Center platform for Digital Financial Assets and Digital Currencies by the council. The Association of Russian Banks decided to create the Expert Center after approving Binance’s membership. Binance Blog on February 17 described the platform’s purpose after announcing its membership in the association via the Binance Russia Official Twitter account on Friday, February 18. 

“The purpose of the Expert Center is to prepare professional opinions on the circulation of digital financial assets and digital currencies, to provide the working bodies of the Association of Banks of Russia and its representatives with expert and analytical materials on the topic,” Binance Blog read. 


According to the publication, one of the tasks of the Expert Center would be to ensure a dialogue with federal authorities, legislators, experts in the field of digital financial assets and digital currencies. The executive committee of the council voted to appoint Olga Goncharova, the Director of Binance in Russia, as the head of the establishment. Additionally, the council president, Georgy Luntovsky, backed the appointment. 

“We are creating an Expert Council for the future and pinning great hopes on the arrival of Olga Alexandrovna. She has big plans for conducting an examination of the circulation of digital currencies, organizing events on this topic. And in our opinion, this is a good candidate to lead the platform where the expert community could discuss approaches to the regulation and development of digital financial assets,” Georgy said, while introducing Olga as the head of the Expert Center. 

Binance Leads Crypto Adoption in Russia 

The recent move by Binance to join Russia’s financial powerhouse would build the exchange’s relationship with many financial institutions in Russia and bolster crypto adoption. Binance has a solid track record of working with regulators, and its collaboration with the Association of Russian Banks would be positive. 

Director of Binance in Eastern Europe, Gleb Kostarev, expressed his delight at the exchange’s partnership with the Russian financial authority. According to his statement, Binance is on the verge of transforming the financial ecosystem in Russia. 

“We are on the verge of a global transformation in the field of cryptocurrency regulation. We are pleased to join the Association of Banks in Russia, this is a very significant step for us,” Gleb said. “I am confident that our developments, our expertise will be positively received by the Russian banking community.” 

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