The European subsidiary of Binance dubbed Binance Jersey has listed a British pound-pegged stablecoin. With this listing, the cryptocurrency exchange aims to provide more trading options to its clients spread across Europe.
The firm has started offering a British pound-backed Binance called GBP Stablecoin (BGBP). The increasing awareness of stablecoins and proliferating use cases for the specialized asset have led to listing the coin. Launched in January, Binance opened the Jersey-based subsidiary to provide crypto-fiat trading services to European traders. Currently, the exchange lists nine digital currencies – Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Binance Coin – against two fiats – British pound and euro.
The Binance Jersey team is anticipating additional cryptocurrencies to add to the fiat-to-crypto currency exchange in the future. It is further developing the platform’s robust technology and customer experience. Meanwhile, Binance launched its margin trading platform earlier this month. It will provide users with potential amplified gains by allowing them to leverage their digital assets.