Binance exchange is testing a new Stablecoin that is pegged to the British Pound and will be released on its own blockchain network, Binance Chain.
The news broke out when a eagle-eyed twitter users noticed the listing of $BGBP on Binance’s platform which later was confirm by Chengpao Zhao (CZ), the CEO at Binance, that they are testing a Stablecoin that is pegged in the British Pound.
CZ also revealed that during the testing phase of the coin they have only minted 200 GBP worth of tokens for testing purposes.
It seems the development of new products and services in Binance has not been affected by the recent security breach that happened some few weeks ago where Binance lost $40 Million worth of Bitcoin at the time of the incident.
The addition of the Stablecoin has been hinted in the past by CZ when he was responding to a tweet that is asking when Binance Dex will support a Stablecoin.
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