CommEX, a cryptocurrency exchange that acquired Binance’s Russian business, recently announced the launch of a P2P service for all platform users. Previously, only clients with merchant status had access to this service, requiring an application and proof of high trading volume on other exchanges.
However, there are certain restrictions in place. Users must complete identity verification, enable two-factor authentication, and connect a Telegram bot to place ads for buying or selling cryptocurrencies. Moreover, they need to have at least 20 successful transactions with ten different trading partners, with an order execution rate exceeding 80% in the last 30 days.
CommEX aims to attract Russian users by supporting Russian rubles for deposits and withdrawals and expanding the range of cryptocurrencies that can be transferred from Binance without fees. Meanwhile, Binance announced its discontinuation of ruble transactions after January 31, citing the risk of international sanctions. There are speculations that CommEX will maintain close ties with Binance’s management.
Sophie Berger covers EU regulation and policy from Brussels. With a Master's in European Affairs from Sciences Po and five years at Politico Europe, she tracks MiCA implementation, ECB digital-euro work and ESMA enforcement. Sophie is fluent in French, German and English, and has interviewed three EU commissioners on record. Her policy briefs are read across the BTCNews newsroom every morning.
