Binance steinkloins will be released within two months

Leading in terms of trading volumes, Binance Exchange will issue its own stablebcoins in the next two months. About this in an interview with Bloomberg told the company's financial director Wei Zhou.

Thus, the release of the first steyblecoin, secured by the British pound, has already become known earlier in June. As then said the head of the Changphen Zhao exchange, at the moment the coin is undergoing testing.

In the future, Binance intends to launch other stablebcoins linked to foreign currencies. It is noteworthy that the exchange does not plan to create an asset backed by the US dollar.

“From the point of view of users, the dollar is used only in certain parts of the world. Other users use other currencies, and we believe that this should be reflected in the stablecoons as well, ”commented Binance's position Wei Zhou.

He also noted that the release of "stable coins" Binance will attract and third-party companies. A similar collaboration has already taken place – this week, Stably, a startup based on Binance Chain, has launched its startup.

Some experts believe that the Binance initiative to issue its own stablebcoins may pose a significant threat to Tether, the issuer of the most popular assets of its kind.

“Binance will certainly jeopardize Tether’s value proposition. Binance can also work with auditors to give firm guarantees that tokens are fully secured and easily redeemed. Given the recent events with Tether, these guarantees will be a compelling reason to use a stable Binance coin, ”said Kyle Samani, co-founder of the hedge fund Multicoin Capital.

Also, analysts suggest that the release of their own steyblokoinov can have a positive impact on the course of the native token of the BNB exchange, although they make a number of reservations.

“This will have a beneficial effect on BNB simply because it is likely to lead to an increase in volumes and, ultimately, an increase in revenues for Binance, and also theoretically to a weaning of market share from the USDT. However, Tether has proven its stability in a competitive environment, ”says Jeff Dorman, director of investment at Arca.

Recall, recently the founder of Ethereum Vitaly Buterin called Binance "a dubious player in the market." In his opinion, the exchange hinders the development of decentralization.

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