{"id":9545,"date":"2019-06-05T11:24:19","date_gmt":"2019-06-05T11:24:19","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=9545"},"modified":"2019-06-05T11:24:38","modified_gmt":"2019-06-05T11:24:38","slug":"binance-testing-new-stablecoin-that-is-pegged-to-the-british-pound","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/binance-testing-new-stablecoin-that-is-pegged-to-the-british-pound\/","title":{"rendered":"Binance Testing New Stablecoin That Is Pegged To The GBP"},"content":{"rendered":"

\"\"Binance is one of the world\u2019s biggest exchanges and it wants to stay that way. This is why it is experimenting with various strategies in an effort to keep its competitive edge. <\/p>\n

One of the latest experimentations comes via the development of a new stablecoin. Instead of the usual pegging of the coin to the dollar, this coin is connected to the British pound. It is now currently being tested and can be seen on the Binance\u2019s trading platform<\/a>.<\/p>\n

This new stablecoin was noticed by a Twitter user on the Binance platform and they notified others. The stablecoin is being traded under the ticker $BGBP<\/strong>. <\/p>\n

Once the news broke on social media, the CEO of Binance, Changpeng \u201cCZ<\/em>\u201d Zhao<\/strong> confirmed that the company was working on a new stablecoin project. <\/p>\n

Zhao said that the project was still in testing so it was not yet ready for general trading. As it is, a minimum of \u00a3200 has been invested into the Binance GBP stablecoin and minted<\/strong> \u2013 not enough for proper trading. <\/p>\n

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" $BGBP<\/a> which we are currently testing and will launch in the future is an effort to diversify the stablecoin assets offered in the ecosystem. In line with #Binance<\/a>'s mission, we would like to provide users with more freedom of choice.\u201d – @weizhouBinance<\/a> pic.twitter.com\/sRauKGZidt<\/a><\/p>\n

— Binance (@binance) June 4, 2019<\/a><\/p><\/blockquote>\n