Binance has recently added a trading pair with its own stablebcoin and pound sterling. However, CEO Changpen Zhao (CZ) does not seem to be too happy with this event:
“Stablecoins are the main attacker of crypto space. There is nothing stable in them.
1 BTC is still worth 1 BTC, while over the past 6 months, “steyblecoins” have fallen 3 times compared to bitcoin.
But if you like them, meet #BGBP at @BinanceJE. ”
Last month, Binance launched the stablebcoin BGBP on a trading crypto platform, where users can convert Fiat to cryptocurrency and vice versa. If the majority of existing steblcoins are provided as a stack currency in US dollars, Binance used sterling. The project is still at the testing stage.
With the launch of BGBP, Binance Chain has become one of the most “equipped” crypto networks in the world. It includes the centralized Binance cryptocurrency exchange, the decentralized Binance DEX exchange, the Binance.JE crypto-fiat trading platform, the Binance Coin native cryptocurrency (BNB) and, finally, the stablecoin BGBP.
CZ criticized the steaklokoiny at the moment when Facebook is preparing to blow up the market with its steeblecoin Libra. As soon as the project overcomes the obstacles created by the government, Libra will be able to become the most used digital currency, since the Facebook base has more than 2 billion people. In addition, Libra has support for 28 companies, including PayPal, VISA, MasterCard, Uber, and so on.
Currently, Binance is the largest crypto-bursa in the world, its decentralized counterpart also achieves success. However, the Facebook initiative with its Calibra trading platform poses a serious threat to the dominance of Binance, Coinbase, Huobi and other trading platforms.