As a leading cryptocurrency exchange in the industry and presently a market favorite for how it managed its 7000BTC hack, Binance is stepping up its game as with other times.
Barely a month after launching its native blockchain dubbed, Binance Chain and a decentralized exchange, Binance DEX, the platform is now ushering in a new stablecoin as CEO Chapeng Zhao hinted in last AMA session.
A Twitter user, CryptoBatman was arguably the first to discover the new Binance GBP Stablecoin. The token is pegged to the British Pound, unlike the majority which is backed by the US Dollar.
In a tweet, an excited Batman wrote about the discovery on Twitter in a tweet, commenting on how positively this new initiative would affect the price of Binance Coin (BNB).
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
— CryptosBatman ⚡ (@CryptosBatman) June 3, 2019
Binance CEO Changpeng Zhao gave testimony to the above tweet when he said that the project is currently in a “testing phase.”
He also attested to the fact that so far, Binance has minted only £200 of the stablecoin, adding his usual saying, “slowly but surely.”
Details About Binance GBP-Pegged Stablecoin
Further information available on the Binance Chain Explorer reveals that the stablecoin will adopt the official name BGBP-CF3.
Additionally, Binance started testing the new cryptocurrency two days ago with timestamp data revealing the introduction took place two days and 13 hours ago on real-time records.
Meanwhile, the news about the stablecoin has not had much impact on Binance Coin (BNB) with the altcoin suffering the same fortune like the rest of the crypto market that dropped its value today.
At press time, Binance Coin had a value of $32.31, representing a 2.52% loss in the last 24 hours.