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Binance is planning the release of a major development: it will release a new stablecoin backed by the Great British Pound (GBP) on the Binance Chain, with the ticker BGBP.
BIG NEWS!
It looks like @Binance has issued their Stable Coin $BGBP on Binance Chain!
It's incredible how fast Binance moves. I can't say enough how big this is for Binance and Binance Chain.
Expect $BNB to skyrocket from here! pic.twitter.com/FAEdvMG2tF
— CryptosBatman ⚡ (@CryptosBatman) June 3, 2019
Binance CEO Changpeng Zhao has responded to this discovery, saying that it is in the “testing phase” and that only 200 GBP had been minted,
This is in testing phase still, only £200 minted so far. Slowly, but surely…
— CZ Binance (@cz_binance) June 3, 2019
Very few details about the stablecoin are known and there is no indication as to when it might be officially launched. But it is certain that Binance is making a great effort to make itself known across the world, as the crypto market comes to be seen as something more legitimate.
The introduction of a stablecoin backed by GBP would mark another big move forward for the exchange, which has already released a series of improvements since the start of 2019. The Binance DEX and Binance Chain have contributed to the Binance Coin’s (BNB) massive growth, and the Binance Launchpad has seen its tokens do extremely well as well.