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Binance Jersey adds GBP-pegged stablecoin

Benson Toti

The world’s largest digital currency exchange, Binance, has listed a GBP-pegged stablecoin on its platform, Binance Jersey, industry website Coindesk has reported.

The crypto token is the company’s own stablecoin called Binance GBP. According to the company, the listing reflects the growing demand for more stablecoin options.

“There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it,” Binance’s chief financial officer Wei Zhou said, as quoted by Coindesk.

Launched in January, Binance Jersey was the exchange second fiat-to-crypto trading platform after Binance Uganda. The platform offers Bitcoin (BTC) and Ether (ETH) trading against the British pound and the euro, but Binance plans to add more cryptocurrencies in the future.

Binance’s fiat-to-crypto trading platforms

Earlier this month, Binance launched its latest fiat-to-crypto platform, that one based in Singapore. The platform initially launched with support for three digital currencies – Bitcoin, Ether and Binance Coin (BNB) – all of which can be traded against the Singapore dollar. Earlier this week, the platform added support for the fourth-largest digital coin, Litecoin (LTC).

Also this week, it was reported that the Binance considers launching a fourth fiat-to-crypto platform in South Korea. The media reports on the matter appear to be supported by the fact that the company is looking to hire compliance officer for South Korea.

“We are seeking a Compliance Officer to support our expansion into all global frontiers, including KYC, Client Onboarding and AML/CFT. The role is based in Seoul, South Korea,” the company wrote in a job listing, indicating that the candidates with “good knowledge on provisions of local laws, directives, regulations and otherwise standards applicable to subject persons and knowledge of upcoming regulation of virtual currency policies” would have an advantage.

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