Poloniex rolls out local support for users in Russia

Poloniex left the U.S. market late last year after spinning out from Circle. Since then, it has sought to make inroads in other countries to replace the market share it lost, and Russia is its latest focus. The exchange is rolling out support for Russian traders, starting by offering some of its services and features in Russian.

Poloniex announced its latest move in a blog post February 13. “As our next move towards better serving our global traders, we’re introducing a partially localized version of Poloniex for our Russian speaking customers,” the exchange stated.

The exchange will offer some of the major features in Russian across both its web and mobile platforms. This is just a starting point, the post revealed. “We’ll continue introducing newly translated pages throughout the coming weeks and plan to have a fully localized version of our website and mobile apps in the coming months.”

Some of the features that the exchange has translated to Russian include the crypto exchange, its lending service and its margin trading. This is as far as it goes, however, for now. All the other features are still in English, even on the Russian version of the site. The exact timeline for the complete transition hasn’t been revealed yet.

In line with international expansion, Poloniex is also seeking to build local communities, starting with Russian-speaking users. The blog post revealed, “On top of localizing our products and website, we’re also building out our localized communities with Poloniex Poloneers. We’ll soon be creating language-specific Poloneers communities with one of our first being for Russian-speaking customers!”

Poloniex was acquired by digital payments startup Circle in 2018 for $400 million. One and a half years later, Circle span out the exchange into a new company, Polo Digital Assets. The move came along with the discontinuation of service for U.S. customers. This had a big impact on the exchange’s trading volume, with most of its clients having been from its home country. The focus on Russia is one of the strategies that Poloniex intends to use to recover the lost revenue.

The exchange recently had to roll back trading history following erroneous activities on its platform. Revealing the incident on Twitter, the exchange blamed the mishap on a bug.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

[10]
[10]