Binance, the world’s leading cryptocurrency exchange, launched its own stablecoin. The new stablecoin will be pegged to the British pound, and not to the US dollar, which is particularly popular among many projects.
This news was posted by cryptocurrency enthusiast CryptosBatman on Twitter.
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
— CryptosBatman ⚡ (@CryptosBatman) 3 июня 2019 г.
The user not only noticed the release of BGBP on the Binance chain but also shared his joy about the rapid development of the platform.
The head of Binance Changpeng Zhao confirmed that their stable coin is being tested now.
Hopefully we have a stable coin that remains stable.
— The Crypto King (@JBTheCryptoKing) 3 июня 2019 г.
Zhao was also asked on Twitter about the intention to launch a stable coin that would be pegged to the euro. In his opinion, this may not happen in the near future, since the euro has a negative interest rate, which may complicate this task.
The second stablecoin on the Binance blockchain was USDS.B from Stably with US dollar support. The coin will be the first for Binance DEX, a decentralized Binance ecosystem. The USDS.B token will be pegged to the US dollar in a 1:1 ratio.
— Stably, Inc. (@StablyCoin) 3 июня 2019 г.
In its official statement, Stably notes:
“Building on Binance Chain provides many benefits for stablecoin users, such as improved security, ease of use, and speed of transaction. This makes USDS.B one of the fastest major stablecoins on the market, with one-second block confirmation time and the ability to process several thousands of transactions per second.”
The CEO of Binance could not help commenting, saying that the Binance Chain attracts the attention of projects precisely because of these advantages. In addition, Binance Chain does not store funds, allowing traders to personally control private keys and assets.
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