Re: Binance stable coin

Ohh, I thought that you are joking about Binance's stable coin but I just looked at the news and it's recent.
https://www.coindesk.com/binance-confirms-stablecoin-offerings-coming-soon-report
https://www.ccn.com/binance-stablecoin-first-hurt-tethers-dominance
Their coin will be backed by British pound, so it won't rely to dollars I think they're up into something just to change the game of the market.

Yes, I have read this article, nowadays more and more stable coins and according to the article above Zhou has no plans to make stable coins supported by the US dollar.
At present, Binance looks fast to develop their projects, there are many new tokens exchanging in the Binance chain and I think this situation will increase BNB prices in the future

I still do not understand why they do not use the dollar to protect, right? Will using GBP be more profitable than USD? And what is the real benefit?

Just to be new? I don't know the reason behind why CZ chose to pegged with GBP rather than dollar. I think it's okay to do it since most of the stable coins were pegged by US dollars. I don't see any issue regarding that but this might be the reason.

Quote from: https://tokenpost.com/Leading-crypto-exchange-Binance-to-introduce-own-GBP-pegged-stablecoin-within-a-few-weeks-2118

Zhou also said that Binance will make money off of interest on fiat deposits, similar to Tether.