Crypto Binary Binance is testing GBP Stablecoin

The big cryptocurrency exchange Binance is apparently testing a stablecoin on its blockchain called Binance Chain, which is pegged to the pound sterling, according to a Twitter post on June 3. Twitter user CryptosBatman noted that “$ BGBP” was listed on the Binance platform.

The Binance CEO Changpeng Zhao has commented under the tweet and confirmed that a pound Stablecoin will be tested. However, only 200 British pounds were coined.Zhao came under criticism last month for a post in which he talked about the possible withdrawal of already executed transactions (Reorg) on the stock market after a hacking attack that stole several million euros.

Zhao is alleged to have sought compensation from the venture capital firm Sequoia Capital China for harming its reputation and its business with an injured injunction against it in 2017.As Cointelegraph recently reported, Binance’s decentralized exchange (DEX) plans to block access to the US website and 28 other countries as of July. A popup on the website indicates that Binance DEX is not accessible through the Website to users with an IP address originating from any of the prohibited countries. However, users can still access wallets that support Binance Chain to use Binance DEX.