Binance to Reportedly Introduce Its Own Stablecoins ‘Within Two Months’

[CryptoAlphaStar]

I think all the exchanges will have own stablecoin soon. BTC and ETH were the gateways, if you wanted to participate in ICOs in 2017 and 2018.
But it is not very convenient, because they are volatile and you cannot store your profits in them in bear markets. Stablecoins are doing better job for that.

[TheClownSong]

I understand how well things are going with Binance and that scares me. I hope this crypto-monopoly of Binance will end, otherwise they will soon begin to dictate ALL the rules of the crypto game. Stable coin .. my goodness. This coin will become popular only because it is Binance, although the market does not need new stable coins.

I dont think making innovation and become leader is a monopoly. Every person can choose their own exchanger freely. This prove that binance or team behind always improve their service and create good climate for cryptocurrency market and crypto investment

[sky_Gritzz]

i know about this issue from twitter, this stablecoin using Binancechain for their platform and called the Stablecoin "BGBP" and backed by pound sterling like USDT, TUSD are backed by USD

[ricardobs]

Leading cryptocurrency exchange Binance will reportedly issue its own stablecoins within two months.

Binance’s Chief Financial Officer, Wei Zhou told Bloomberg that the exchange will start issuing its own stablecoins “in a matter of weeks to a month or two," with the goal to make stablecoins available for more of the world’s currencies.

The exchange’s first stablecoin dubbed “Binance GBP” will reportedly be denominated in and 100% pegged to the British pound. Zhou also revealed that Binance will make money off of interest on fiat deposits, like tether (USDT) does.

https://cointelegraph.com/news/binance-to-reportedly-introduce-its-own-stablecoins-within-two-months

Every platform now want to create their own stable coin ever since they heard of the news from tether, I still believe that even if they were able to create theirs, there would still be some shady activities going on with the coin that we might not know, for example binance can stabilized the coin from their own end without having any reserve or whatsoever stabling the price of the coin, so let's be wise investing.

[beeelzebub]

Binance is definitely the industry leader of centralized crypto exchanges. They are always trying to increase their dominance in their area. And i too think that the more and more stablecoins will be created in the near future.

[starblocks]

Exchanges are certainly jumping on the bandwagon now with the majority of the major trading platforms proposing to develop their own blockchains, stablecoins, and launchpads which will only benefit them in the long run if the market sees exponential growth from this year onwards and this could happen if other supporting factors contribute to adoption such as major brands presenting more appealing use cases which will attract more users and increase adoption