British Pound Stablecoin

Binance Working On The New British Pound Stablecoin

The global crypto exchange platform, Binance has come up with a British Pound Stablecoin. The British Pound stablecoin is in the pilot stage on its own blockchain, Binance chain. The information comes from a twitterati CryptoBatsman’s post.

The twitterati observed the “$BGBP” listing on the Binance platform. Changpeng Zhao, the CEO of Binance later replied to the post saying that the stablecoin is in its testing phase. It has been minted with only  £200 till date.

According to a recent post, Binance’s decentralized exchange (DEX) blocked its users across 29 countries. Any users from these countries were sent with a pop-up reading that this website will not be accessible with an IP address of banned countries. Albeit, the users have access to some wallets that they can use for trading. Last month, Binance was hit by hackers who stole 7,000 bitcoins. The exchange remained non-operational for a few days.