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Clearly Binance is developing Stable Coins for Pound Sterling

HOME> News> It is revealed that Binance is developing stable coin of pound sterling


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

A major crypto asset exchange, Binance, has unveiled at Money 2020 that it is developing stable coins that are linked to the British pound (GBP) .

Stablecoin is named ” BGBP (Binance GBP) “, according to CFO Wei Zhou, who is working on development to increase the choice of users for legal currency assets.

The existence of BGBP has also been confirmed from images posted by Twitter users this month, and Binance CEO Changpeng Zhao has acknowledged that the same currency is in the testing stage .

BGBP will be linked 1: 1 to sterling, and will also conduct third-party reserve audits . Ensuring the transparency of reserves through audits has come to be regarded as important from the occasion of Tether’s USDT incident.

Announced to restrict the use from Japan in DEX and margin trading provided by Binance (Binance)

Article Source: Trustnodes

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