Copy link
Increase text size
Decrease text size
Link copied

Binance lists GBP-backed stablecoin 'BGBP'

Image Credit: www.ammcobus.com

Tue, 23 Jul 2019, 03:25 am UTC

Cryptocurrency exchange Binance is adding support for GBP-backed stablecoin, Binance GBP Stablecoin (BGBP), as per its announcement.


BGBP is a Binance-issued token and is 100% backed by the same amount of GBP held by Binance in a bank account.

Binance will allow its users to trade BGBP in BGBP/USDC trading pair. Trading will be available today (July 23, 2019) at 4:00 UTC time. The listing fee is 0 BNB.

Users can also buy and trade BGBP at Binance Jersey, its European subsidiary that was launched earlier this year.

The listing follows media reports in June that Binance was preparing to launch its own stablecoin pegged on GBP, with CEO Changpeng Zhao confirming and revealing the minting of £200 at the time.

Binance Chief Financial Officer Wei Zhou also noted the overwhelming demand for “stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it.” He also revealed that the use cases and utility of stablecoins have tripled since the start of 2019.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,693.18 (+0.71%)
  • Ethereum (ETH) $243.19 (+0.86%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $256.34 (+1.10%)
  • Bitcoin SV (BSV) $196.59 (+0.35%)
  • Bitcoin (BTC) $9,693.18 (+0.71%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft