Binance considers new stablecoins for listing

Posted 19 October, 2018

Binance, one of the leading cryptocurrency exchange headquartered in Hong Kong, is said to consider adding new stablecoins following those three stablecoins listed earlier.

"We hope to be able to list a few more stablecoins on our platform," chief financial officer Wei Zhou told CoinDesk Thursday.

According to the media report citing platform's CFO, these moves should not be related to the lost confidence in USDT stablecoin which is no longer pegged to the US dollar staying below $1. However, the platform expects the situation with Tether to back to normal, so they do not plan to stop supporting this coin.

Binance started thinking over expansion to stablecoins even before the recent Tether issue. Specifically, they successfully listed Paxos Standard and TrueUSD. 

For now, the exchange is reportedly considering all available stablecoins. The potential coin for listing is Gemini Dollar run by well-known Winklevoss twins. Notably, these assets also lost fiat pegging, though posted strengthening, unlike Tether coin.

"Rather than hold bitcoin, [institutions] actually prefer to hold more stablecoins, because the dollar is still the default currency in some of these countries. That's just one use case that we've seen that's different in this part of the world, versus other parts of the world," noted company CFO.


At the same time, Tether is said to play a critical role for the whole ecosystem "because it offers an alternative for investors to park their assets in something they can relate to."

Previous story

22 October, 2018 12:25

← Italian budget issue and Brexit keep affecting euro and sterling

The euro and sterling reportedly showed no strong changes against the US dollar. At the same time, the market is waiting on Monday for new reports about the Brexit process and Italy's budget, especially after a strong negative stance of the EU towards the draft. The US Dollar Index decreased to 95.44 on Monday. The greenback stays generally firm with slight fluctuations vs the majors. The rates were within short range amid the current tensions between Saudi Arabia and the Western world as well as trade disputes and global economic uncertainties.The euro-to-US dollar rate reached 1.1515 today after sliding to $1.1510 early Monday. At the same time, the sterling weakened to 1.3050 vs the greenback.

 

Italian budget issue and Brexit keep affecting euro and sterling

Next story

19 October, 2018 14:44

First ICO license sees the light in Bermuda →

The first ICO license has been granted in the Bermuda island. The news reports read that that the fintech company Uulala won the first certificate to float ICO in line with the new set of rules for blockchain and crypto segment. Uulala waited for four months till the authorities eventually approve the certification. According to the available data, the company is going to present a decentralized p2p network to bring cash to the digital economy. The target ICO sum has been set at $50 million.

First ICO license sees the light in Bermuda
Write a comment
 
Prove you’re not a bot + 9 = 25