Binance, the largest cryptocurrency exchange in the world and one of these most recognizable names in the space, is looking to step up its game once again. After the launch of its native blockchain, Binance Chain, and their decentralized exchange, Binance DEX, the exchange is all set to introduce a native stablecoin, Binance GBP Stablecoin.
According to a tweet by CryptoBatman, the exchange has already “issued” its stablecoin, rumoured to be backed by the Great Britain pound [GBP], with the rest of his tweet mulling the positive price effect this would have on the exchange’s native cryptocurrency, Binance Coin [BNB]. BNB is currently the seventh largest coin on the market. The tweet read,
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
— CryptosBatman ⚡ (@CryptosBatman) June 3, 2019
Changpeng Zhao, CEO of the exchange, attested to the above tweet and stated that this project is currently in a “testing phase.” He added that only £200 of the stablecoin has been “minted” thus far, but hinted that more will come, “slowly but surely.”
The Binance CEO’s reply read,
This is in testing phase still, only £200 minted so far. Slowly, but surely…
— CZ Binance (@cz_binance) June 3, 2019
Further, as per the explorer page on Binance, the official asset name for the stablecoin is BGBP-CF3, with 200 in supply, as confirmed by CZ. The time stamp on the same indicated that the coin was introduced 2 days and 5 hours ago,