Binance to Reportedly Introduce Its Own Stablecoins ‘Within Two Months’

Leading cryptocurrency exchange Binance will reportedly issue its own stablecoins within two months, Bloomberg reported on June 5.

Binance’s Chief Financial Officer, Wei Zhou told Bloomberg that the exchange will start issuing its own stablecoins “in a matter of weeks to a month or two,” with the goal to make stablecoins available for more of the world’s currencies.

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Yes, Stablecoins Can Secure Official Audits from Major Firms

“We have nothing to hide,” says Tory Reiss, VP of corporate development at TrustToken. Like the market’s most popular stablecoin, Tether, TrustToken’s TrueUSD is fiat-collateralized. Under this model, each token (in theory) should be backed 1:1 with a corresponding dollar in a related bank account.

This model may not play out in practice as it does in theory,

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