Closely following the launch of Binance Chain and the migration of BNB tokens to the new blockchain, the popular cryptocurrency exchange could move ahead to undertake another ambitious project — a stablecoin.
In his response to a Twitter user who suggested that Binance should follow up their mainnet launch with the release of a stablecoin, the exchange’s CEO, Changpeng Zhao replied,
“Careful what you wish for.”
Careful what you wish for.
— CZ Binance (@cz_binance) May 1, 2019
While you may wonder why the response is significant, it is worth noting that the last time CZ issued such a response, the exchange swapped the format of the Binance Launchpad token sale to a lottery format.
Binance has also built a track record of noting user’s suggestions and working on them, especially when they could yield more money for their business.
What a Binance Stablecoin Will Mean
If Binance were to follow through on the suggestion and birth a stablecoin, then the exchange would join their counterparts, Gemini (GUSD) and Circle (USDC) as the popular exchanges to go down that path.
However, Binance’s position as one of the most widely used crypto exchange platforms means that it wouldn’t be wrong to expect them to enjoy a more significant adoption ratio than the others.
Changpeng Zhao and co. could easily integrate the stablecoin into any segment on their exchange or even figure out a way to use it to improve utility for their already high-performing Binance Coin (BNB).
Also, coming at a time when the most widely used stablecoin, USDT and it’s Issuers are in crisis could further fuel adoption.
Wait. It is all still a wish, and unless Binance makes a move in that direction, none of these predictions will happen.
Are we going to see Binance stablecoin soon? Time will tell.
Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!