One of the world most popular and biggest cryptocurrency exchange has recently revealed that it is launching its own Bitcoin (BTC)-pegged token on its native blockchain, Binance chain.
The new token will be available for trade in Binance as well as its decentralized counterpart Binance DEX.
BTCB will be one of a series of cryptocurrency-pegged tokens which the company intends to launch on Binance Chain.
BTCB is reported to be backed by 100% bitcoin with reserves easily visible as they are recorded on the public blockchain which allows more convenient audits.
Creating cryptocurrency-pegged tokens on the Binance Chain will give users of the Binance DEX access to tokens that have their own blockchain and are not on the Binance Chain.
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