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Could Binance Stablecoin Challenge Tether For Market share?

Could Binance Stablecoin Challenge Tether For Market share?

All Cryptocurrencies

by COINS NEWS 42 Views

It seems Binance is about to enter the stable coin game along with margin trading, Possibly within a month or two.

They are going to release what will be called the Binance GBP, this will be fully backed by reserves of British points. It looks like this will be the first of multiple stablecoins which will be pegged under alternate currencies. There is no plans to introduce a US dollar backed stable coin as yet though
It is well known that CZ has a way with words and knows how to deliver, how do you think this could affect major players such as USDT TUSD USDC etc? Sure the current coins are backed by USD but does it really matter what stable currency it is? (Be it USD, GBP, KRW etc)

Also do you still the decentralized stablecoins such as MakerDAO and Reserve Protocols RSV will still be as popular to be adopted considering the sheer amount of centralized coins on the market?

I personally think if we can pull off a truly decentralized stablecoin, we will have hit the jackpot but not many seem to be working on them.

submitted by /u/Aiwlys
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