Binance Is Looking For New Stablecoins

Binance Is Looking For New Stablecoins

The unpleasant story that has occurred with USDT has spawned a lot of talk about the need to use alternative stablecoins. The largest exchange Binance has stepped up work to expand the list of available regulated cryptocurrencies.

Back in May 2018, Binance listed TrueUSD. Then it did not seem to be something too important, especially if we consider that in this period there was a listing boom on the exchange. At the end of September 2018, the exchange was “enriched” with another coin pegged to the US dollar – Paxos (PAX).

But recently, CFO Binance Wei Zhou has said that he is counting on listing a few more stable coins, which would significantly expand the exchange’s possibilities to provide financial services. Moreover, he has explained that a large selection of coins backed by fiat currencies is one of the policies of the exchange.

It is important to note that no one is going to give up on Tether. Binance simply plans to give users the widest possible field for action and the choice of financial instruments for trading.

We should closely follow the announcements and news from Binance, since today several dozens of stablecoins are available, which means it is useless to make any predictions on listing. However, on October 15, Changpeng Zhao tweeted that the exchange could not open the market to a stablecoin with a capitalization of only $24 million.

This suggests that the Binance team is looking for serious projects that can become part of their ecosystem.