On June 17, Binance announced the launch of tokens on Binance chain that would be pegged to the leading cryptocurrencies. Chief Financial Officer Wei Zhou announced that this would be the first of many stable coins.
Launching Binance Tokens
"We are launching tokens on Binance Chain that will be pegged to leading cryptocurrencies. This will start with a Bitcoin-pegged tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details that will be traded on Binance and proposed for tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details on Binance DEX," – as the blog states.
Cryptocurrency-pegged tokens, such as BTCB, will be 100% secured with their own backup coin and issued through Binance Chain exchange’s own blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details.
Interesting in the section: Binance Coin, as additional tool
BTCB will be available for trading in a pair of BTCB/BTC on the main platform of the exchange before being transferred to Binance DEX.
"The trading pair on Binance.com for BTCB/BTC will appear in a day or two, and we will release a listing offer for DEX," – Binance team.
Binance exchange announced the launch of the tokens on Binance chain that will be pegged to the leading cryptocurrencies. Further, the blog notes that this step is part of a larger plan to increase the number of tokens available on Binance DEX. Let us remind you that on June 14, the general director of the Binance Cryptocurrency Exchange, Changpeng Zhao, made fun of those media outlets that called Binance DEX the blockchain.
Editor: Yuliya Soroka