Leading cryptocurrency exchange Binance is testing a new stablecoin, backed by the British Pound, on its native blockchain Binance Chain.
Twitter User CryptosBatman was the first to notice the new Binance GBP stablecoin:
Binance CEO Changpeng Zhao has confirmed the development and said that it is still in the testing phase. Only about £200 worth of BGBP has been minted until now.
Incidentally, Binance also launched the first stablecoin on its newly launched Binance DEX. Called USDS.B and issued by Stably, the stablecoin is the first one to be built on Binance Chain. USDS.B will make it easy for other Binance Chain projects to establish transparent and liquid on-chain trading pairs with it.