The Jersey arm of Binance has listed the cryptocurrency trade’s personal British pound-backed stablecoin.
Binance introduced Friday that Binance GBP (BGBP) is being supplied on the fiat-to-crypto platform on account of dealer demand for extra stablecoin choices.
“There was an amazing demand out there and Binance neighborhood for extra stablecoin diversification, together with a GBP-pegged stablecoin, and itemizing BGBP is in response to it,” mentioned Binance CFO Wei Zhou.
Binance Jersey launched again in January to supply buying and selling in bitcoin and ethereum in opposition to the British pound and the euro. Jersey is a British self-governing dependency.
The Jersey platform expects so as to add extra cryptocurrencies sooner or later, whereas additional growing the platform’s know-how and buyer expertise, the trade mentioned.
Binance can also be anticipated to launch extra fiat-based stablecoins going ahead, and has additionally began rolling out tokens pegged to cryptocurrencies like bitcoin.
Binance picture by way of Shutterstock