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."