Bitcoin Forum

One of the leading cryptocurrency exchanges Binance, announced to launch a cryptocurrency project “Venus”. The platform claims that it is an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe.

Source: https://coinpedia.org/news/binance-open-blockchain-project-venus/

What's your take on this?

Venus and Libra have a similar idea but I think Venus will do better because it was born earlier than Libra.
Venus will surely be greatly sought after in the coming days and it will replace Libra in the future.
While Libra is still under trial and with many benefits reduced, they will surely find it difficult to compete with Venus in the future.

Both Venus and Libra will probably be wildly successful, after all, practically everything both Binance and Facebook touch turns to gold.

I would like to see a collaboration between the two, Facebook's reach and Binance's position in the cryptocurrency space could make for an absolute game changer.

I actually think if such a partnership were announced, the entire crypto market cap would double within 3 days.

I would say that since it will come from Binance themselves, there could be a lot of hype prior to the launching of this coin. But comparing them against Libra? We will have to see, a lot storm did came when Facebook announce it since they're no player in this market. However, since the project will come from one of the best trading platform, I would say I will give it a benefit of a doubt and let's see how it will do in the crypto space once it is launched.