Binance is very famous cryptocurrency exchange and is doing well; it is now in the process of testing stable coin which is based on the British pound. This has been done based on the information which was listed on Twitter on June 3. This is huge step and this is going to change the UK market completely. It is the cryptocurrency are moving in the right direction.
- Binance is catering to people from 28 countries.
- It is completely decentralized exchange.
- Users can get their wallets from most other countries too.
Changpeng Zhao who is the CEO of Binance said on twitter that stable coin is in testing phase and this is only with £200. Zhao was under fire when he started rolling back transaction after a $40 million hack and this is something which has not gone too well with many users. This has upset many people and this was never expected from such a popular exchange and which was very bad.
After that they also sought for damages from a firm in China which was called sequoia Capital China and later on put the case to get the damages, but this was a loss of reputation which they went through. This is a bitter battle fought between two firms from the crypto world and that has completely caused negative impact on ones business.
The world of crypto currency is changing a great deal regularly you can call it very dynamic.