Binance Jersey lists Binance GBP (BGBP) stablecoin

19 Jul, 2019 | Updated: 19 Jul, 2019
by David Robb
Binance Jersey lists Binance GBP (BGBP) stablecoin

Binance Jersey has recently expanded its stablecoin offerings further. The platform will now list Binance's own Binance GBP (BGBP), a crypto pegged to the British Pound. 

Binance Jersey launched back in January, as part of the top crypto exchange's continuing expansion, focusing on supporting the local currencies of specific regions around the globe.

A small island located between the UK and France, Jersey is a 'bailiwick' under the protection of Great Britain, and Binance Jersey offers users the opportunity to trade BTC and other cryptos with British Pounds, as well as Euros. Its launch followed the establishment of Binance Uganda back in 2018, and has been followed by the launch of Binance Singapore, amongst other new platforms.

Binance announced development of Binance GBP, its first-ever stablecoin, at the start of June. BGBP is another alternative entry point into crypto for UK-based traders, and its listing on Binance Jersey means they can now trade crypto with both the digital and regular fiat versions of the British Pound. 

Binance CFO Wei Zhou told CoinDesk, "There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it".

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