Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Binance Coin (BNB) => Topic started by: Mercury on June 04, 2019, 04:06:44 PM
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Binance Chain appears to be considering the launch of its very own stable coin. BGBP, as the cryptocurrency is supposedly touted, is pegged to the British Pound. According to the CEO of Binance, Changpeng Zhao, the stable coin is only in a testing phase, but their intentions seem serious.
Careful What You Wish For
The fact that Binance is working on its very own stable coin doesn’t come as a surprise to those who are following the field closely.
Back at the beginning of May, Twitter user CryptosBatman tweeted that if Binance decides to issue their very own stable coin, it will become one of the most prominent tokens on the Binance Chain, while also increasing the utility of Binance Coin (BNB) and the overall network usage.
At the time, the CEO at Binance, Changpeng Zhao, responded briefly without providing any further comments or explanation. He merely said, “careful what you wish for,” hinting that a stable coin might genuinely be in their plans.
Now, it turns out that it’s precisely what seems to be happening.
BGBP Is Already in Testing Phase
More than a month later, the same Twitter user found out that Binance has actually issued a stable coin on their decentralized exchange, Binance Chain.
BIG NEWS!
It looks like @Binance has issued their Stable Coin $BGBP on Binance Chain!
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
Expect $BNB to skyrocket from here! pic.twitter.com/FAEdvMG2tF
— CryptosBatman ⚡ (@CryptosBatman) June 3, 2019
Once again, CZ was quick to respond, this time shedding a lot more clarity than before, leaving no doubt that the world’s leading cryptocurrency exchange has serious intentions of launching its very own stable coin.
“This is in testing phase still, only £200 minted so far. Slowly, but surely…” – Tweeted CZ.
It appears that the stable coin launched by Binance will be pegged to the GBP, unlike the majority of existing ones which are backed by the US dollar.
At the time of this writing, Binance supports several stable coins, including TUSD, USDC, USDS, USDT, and PAX.
Meanwhile, at the time of this writing, Binance Coin (BNB) is recording slight losses of around 3.3 percent on the day. The cryptocurrency is currently trading at $32.41, being the 7th largest one in terms of total market capitalization.
Source (https://cryptopotato.com/breaking-binance-testing-gbp-pegged-stable-coin-on-binance-chain/)
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The wait has come where this GBP is the most expensive currency in the whole world beating USD and Euros.
Now the Binance Chain is on trial to test the GBP coin network to become a coin called BGBP or the Great Britains Pound Sterling.
This will make something special for Binance because it is able to create GBP within the scope of its network, because Ethereum does not yet exist for this in the cryptocurrency market.
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I don't think it's testing anymore because GBP is already listed on the Binance exchange.
If I'm not mistaken, there are lots of FIATs circulating on Binance including currencies from some African countries.
GBP may be an expensive Fiat but its huge worldwide expansion will be great for Binance's progress in the future.
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It's been tested friends, now EUORO is on Binance.
I've seen it just now in the app and it's really helpful for the European market.
The pair for EURO trading is included in the top 15 CMC coins and of course there are pairs for BTC, ETH and Ripple. Checkt this out on Binance App guys !
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Very good and laak in appreciation because now the Great Britain Pound is listed on Binance for FIAT trading.
Everything can be purchased using Visa or Mastercad, so cool Binance!
In fact, almost representatives from every continent in the world are on the Binance exchange for Fiat and this is simply amazing.
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Binance already has a great run for its future as I see GBP as being perfectly pagged on the Binance Exchange market.
I see this is the seriousness of the Binance Exchange looking for something called new investors from around the world and most importantly from various European countries which are very supportive of the Great Britain Poundsterling (GBP).