Binance Will List New Stablecoins

Binance, the largest cryptocurrency exchange, is considering the possibility of adding new stablecoins in addition to the three “stable coins” already presented on the platform.

“We hope to be able to list a few more stablecoins on our platform,” said chief financial officer Wei Zhou in a conversation with CoinDesk.

At the same time, he noted, the new initiative does not mean the loss of confidence in the most popular stable coin Tether USD (USDT). The latter has not yet restored parity with the US dollar and is currently trading at around $ 0.98.

“As a whole, we believe things will even out. We will continue to support USDT,” he added.

Binance began to show significant interest in the stablecoins even before the dramatic events around Tether. So, at the end of September, the largest exchange in terms of trading volume added support for Paxos Standard (PAX). Also, in May, a stablecoin TrueUSD (TUSD) was added to the Binance listing.

Wei also said that the Binance research team is currently analyzing almost all of the stablecoins on the market. At the same time, he said that with high probability the next “stable coin” in the listing of the exchange will be the Winklevoss brothers Gemini Dollar (GUSD).

Note that the above-mentioned “new stablecoins” also lost parity with the US dollar. However, unlike the USDT, they all bargain slightly above $1.

Returning to Tether, Wei emphasized the significance of this coin:

“We do believe this stablecoin, as an entity, is critical for our ecosystem right now because it offers an alternative for investors to park their assets in something they can relate to.”

This week, Binance had to somewhat suspend the possibility of withdrawing USDT, the volatility of which abnormally increased against the background of the massive sales of this coin. According to Wei, the panic was caused by the “spreading false rumors” about Tether.