Non-custodian exchange Binance DEX will soon begin to support five new stablecoins, which are provided with fiat currencies. The issuer of the coins is TrustToken, supported by venture firm Andreessen Horowitz.
The launch of all five stable coins, namely TrueUSD, TrueGBP, as well as TrueAUD, TrueCAD and TrueHKD will take place on Binance Chain, the exchange’s native blockchain. Prior to this, stablecoins were available in the ERC-20 format (Ethereum). This solution will enable Binance DEX users to access even more digital assets, as well as new trading opportunities. In addition, this step should simplify the transfer of funds between crypto user accounts and their bank accounts. For non-custodian exchange users, the commission for making a transaction with stablecoins is 0.04%.
In June, the first stablecoin from the Stably project hit the Binance DEX listing. Today Binance DEX will start supporting TrueUSD, a little later other coins will become available – GBP, AUD, CAD, HKD.
TrustToken started its operations in 2017. The TrueUSD stablecoin was originally introduced, which is pegged to the US dollar in a 1: 1 ratio. After that, the issuer announced the launch of TrueGBP – this stablecoin is pegged to the British pound. The TrueHKD coin is pegged to the Australian dollar, TrueCAD to the Canadian dollar, TrueAUD to the Australian dollar. Soon, the TrueSGD stablecoin will be introduced, the value of which will be tied to the Singapore dollar.
Not so long ago, the BTCB token, which is provided by BTC, got on the Binance DEX listing. In the future, it is planned to support coins that are provided by other cryptocurrencies.
