Today, the Binance Jersey exchange listed the BGBP crypto, a stablecoin anchored to the price of the British pound.
“There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it. Use cases and the utility of stablecoins have increased as well as BNB, which has tripled since the beginning of the year and continuing to grow rapidly with the advancement of Binance Chain”,
explained said Wei Zhou, Binance’s CFO.
The stablecoin will be available for purchase and sale on the platform against both the euro (EUR) and the pound (GBP).
Binance Jersey is a platform that allows trading cryptocurrencies with fiat, including euros and British pounds, specifically intended for the European market.
In January, on the occasion of the opening of Binance Jersey, Zhou had declared:
“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption”.
