Binance test stablecoin pegged the pound on Binance Chain

[bounty.cvn]

Binance test stablecoin pegged the pound on Binance Chain

Binance Chain seems to be considering its own stablecoin launch. BGBP is an electronic currency that is pegged to the British pound. According to Binance's CEO, Changpeng Zhao, this stablecoin is currently only in testing, but their intentions seem serious.

What do you think about this ?

[Iykecollins]

It seems Binance is doing everything possible to attract a lot of attention to itself and control too much. There are already a handful of stablecoins being traded on Binance exchange and others, Pax, usdt, usdc,and Tusd are all in this category and achieving the same aim.

[CryptoBry]

Binance test stablecoin pegged the pound on Binance Chain

Binance Chain seems to be considering its own stablecoin launch. BGBP is an electronic currency that is pegged to the British pound. According to Binance's CEO, Changpeng Zhao, this stablecoin is currently only in testing, but their intentions seem serious. What do you think about this ?

This is another manifestation of the Binance power. One day they can be enveloping the cryptocurrency industry with so many products, services and platforms all rolled into one name: Binance. Such is the vision and the great managerial ability of the people behind Binance.

When a big hack is not able to kill you, what will you do? Well, create a stablecoin named BGBP, that's for sure! Congrats to Binance for this another exciting move!

[Nalbo]

It's great to see binance bringing new things to crypto market. Though they might not be bringing it the first time, the things done by binance makes an huge impact on the overall crypto industry. Binance has unianimously became the exchange of choice and anything they bring is generally a huge success.

[Adriano2010]

If they will issue own stable coin i wish that they will back up every coin and not happen like happen with USDT because if that will happen people will lose trust on Binance and maybe some bad thing can happen.

[cabron]

It seems Binance is doing everything possible to attract a lot of attention to itself and control too much. There are already a handful of stablecoins being traded on Binance exchange and others, Pax, usdt, usdc,and Tusd are all in this category and achieving the same aim.

Not entirely the same aim but this time  for the British market.

Those TUSD, USDTand USDC aren't in their chain so this must be different. I guess sooner is will be like forex market that we can trade USDT/BGBP, well sort of a new platform to use I guess the meta trader of the forex brokers will soon be useful in crypto. Is this far-fetch?

[BryanK]

If the market will continue to be in the green zone, then we can certainly see this process before the appointed time.

[romanij]

I think it needs the regulators ' permission. But the idea of Binance is very good but time-consuming. I think that in 10 years we will be able to see Binance among the monopolists of the cryptoindustry.

[serjent05]

This might be a great tool to flourish BNB further, capturing the British market, but if they oversee some serious thing, this might start the fall of their exchange.  Regulation are sure getting tight in crypto exchanges.  I hope they won't miss all the needed legalities in launching their stablecoin.

[qazgroup]

I do agree with most of the people here that another stablecoin was not needed especially when there are many available already and also listed on binance platform but then again there was no gbp pegged stablecoin so i will support binance about it as it will attract large british userbase to binance as well.

[semes]

Stable coin logic is very important for this market. However, I do not think there is a need for so many stable coins. Almost every platform has become dozens of stable coins soon. And yes I don't think we need new one even it creating from Binance.

[maldini]

It seems Binance is doing everything possible to attract a lot of attention to itself and control too much. There are already a handful of stablecoins being traded on Binance exchange and others, Pax, usdt, usdc,and Tusd are all in this category and achieving the same aim.

Not entirely the same aim but this time  for the British market.

Those TUSD, USDTand USDC aren't in their chain so this must be different. I guess sooner is will be like forex market that we can trade USDT/BGBP, well sort of a new platform to use I guess the meta trader of the forex brokers will soon be useful in crypto. Is this far-fetch?

In my opinion not too, later binance will fix prices through their stable coins BGBP, BTC / BGBP, ETH / BGBP, etc. But I don't know how much the initial value they pegged, whether to follow the price of the dollar or not, but in my opinion this will not be much different from the USDT.

Yes, since binance hacking happened, binance began to rise to attract investors to return, they turned their minds to create new innovations and make the best exchanges.

[MostafaGamal]

It's seems that binance have an ambitious to be in all the cryptocurreny fields to attract more investors, and for more its a good idea that the base coin Wil be the Pound

[ahmed04]

Yes, I agree - this is a very loud statement. Binance is a very strong project and I think they have a future in the crypto industry.

[maydna]

I won't say anything right now because they are saying that it is currently only in testing, so we need to wait for a while and wait for the results. Yes, it seems Binance was serious with their project but still, we don't know the details about the progress of the projects and if everything is running smoothly, then perhaps, they will give some update related to the projects.

Perhaps, Binance wants to compete with the existing stable coins, so they build new projects and if the project success, then they will have a new stable coin that will have a market like the other coins. So let's wait for the next update from them.