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Binance Plans To Introduce Its Own Stablecoins ‘Within Two Months’

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

Binance is reportedly planning a host of other stablecoins backed by other currencies, except the U.S. dollar. Zhuo elaborated over the company’s decision, that  “from the users’ perspective, only certain portions of the world use the dollar. Other users use other currencies, and we feel it should be reflected in stablecoins as well.” 

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

Image Source – Pixabay.com

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