CZ confirms GBP-backed stablecoin coming to Binance - "slowly but surely"

03 Jun, 2019
by Richard Allen
CZ confirms GBP-backed stablecoin coming to Binance - slowly but surely

With Binance, one of the world’s biggest exchanges having launched its native blockchain, Binance Chain, followed by its decentralized exchange, Binance DEX, the exchange is showing no signs of slowing down as it's now well on its way to introducing the Binance GBP Stablecoin.

Twitter user CryptosBatman tweeted earlier today that Binance had already launched its stablecoin, reportedly pegged to the value of the British pound, on Binance Chain. CryptosBatman expects Binance Coin “to skyrocket from here” as a result.

However, Binance chief executive, Changpeng Zhao responded, stating that their stablecoin is still testing phase with just £200 being minted so far. However, progress is being made “slowly, but surely.”

This can be confirmed on the explorer page on Binance. It shows the official name for the stablecoin as BGBP-CF3 and reaffirms CZ’s statement that only 200 are currently in supply. According to the time stamp, the coin was issued two days and six hours ago.

While the stablecoin might not be ready just yet, crypto Twitter is still excited at the prospects:

At the time of writing, Binance Coin is trading at $32.33, down 2.92%. 

BNB/USDT chart provided by Tradingview

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