Binance Cryptocurrency Exchange Testing British Pound Stablecoin

[Vladdirescu87]

Major cryptocurrency exchange Binance is apparently testing a British pound stablecoin on its native blockchain, Binance Chain, according to a Twitter post on June 3.

Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform.

Binance CEO Changpeng Zhao has commented on the tweet, confirming that a pound stablecoin is in the testing phase, with only £200 minted.

https://cointelegraph.com/news/binance-cryptocurrency-exchange-testing-british-pound-stablecoin

[CryptoBry]

Binance is now expanding well and is always on the lookout to add into its platform anything that can widen its market, reach and of course profits. Hence, the coming introduction of its stablecoin fits to the narrative so well. I am sure that BGBP can have a good place especially if it will be given much importance and focus with Binance. Though we have to admit it that players in the stablecoin market is getting crowded so the fight for market share can be intense. One day, we might be waking up realizing that Binance has already dominated the cryptocurrency space.