The leading cryptocurrency exchange in the world, Binance, is apparently looking forward to the addition of more stablecoins to its exchange in addition to the three that it already supports. The exchange is in the daily cryptocurrency news after its CFO, Wei Zhou, told one news source that they are “hoping to be able to list a few more stablecoins” on their platform.
Still, this does not mean that the exchange, which is based in Hong Kong, is souring on USDT, which fell to an 18-month low and is losing popularity after the total of $610 million that was wiped out from circulation.
Zhou also said:
“As a whole, we believe things will even out. We will continue to support USDT,”
Binance’s interest in expanding its stablecoin options predates Tether and its recent break out of the buck. The exchange right now has support for Paxos Standard (PAX) and TrueUSD (TUSD) aside from Tether’s USDT support.
Right now, Wei said that the Binance research team is evaluating almost all the other stablecoins on the market – with a particular interest for adding the Gemini Dollar (GUSD) backed by the Winklevoss twins.
“Rather than hold bitcoin, [institutions] actually prefer to hold more stablecoins, because the dollar is still the default currency in some of these countries. That’s just one use case that we’ve seen that’s different in this part of the world, versus other parts of the world,” Zhou concluded while speaking to Binance’s recent expansion in Uganda.
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