CZ hints at Binance launching its own stablecoin

01 May, 2019 | Updated: 01 May, 2019
by Will Heasman
News
CZ hints at Binance launching its own stablecoin

In a reply to a Tweet suggesting that Binance should create its own stablecoin, exchange Boss, Changpeng “CZ” Zhao, uttered his famous five-word answer: “careful what you wish for,” a phrase synonymous with past developments… So, is Binance going to develop a stabelcoin?

The original suggestion came from a popular User on crypto Twitter known as CryptosBatman, who detailed the benefits of a stablecoin created upon the newly minted Binance Chain, suggesting that it would increase utility and network usage for BNB:

And that’s when CZ came in with his now famous trademark phrase:

One user replied that Binance was already “cooking something like this up”

Others speculated on what the stablecoin may involve:

But Is it wrong to jump the gun and assume this means a Binance stablecoin is on the horizon? Maybe not.

The very same occurrence of this phrase coincided with multiple Binance developments in the past. The most recent of which was the format change enforced on the Binance Launchpad token sales:

href="https://twitter.com/cz_binance/status/1108826629642412032?ref_src=twsrc%5Etfw">March 21, 2019

Before that there was launch of Binance Jersey, which CZ hinted to after one users requested a BTC/GBP pairing back in January:

CZ even hinted to a base pair for XRP back in December 2018, which came to fruition shortly after, much to the pleasure of the XRP army:

So as it stands it looks fairly likely that we’ll hear more news relating to a Binance stablecoin in the future, for now, speculation on what that might involve, continues; however, with the recent Tether/Bitfinex fiasco, Binance might just be able to convince a few of USDT’s disillusioned customers to jump ship…

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