Cryptocurrency exchange Binance is testing a British pound stablecoin on its native blockchain, Binance Chain. This is according to a Twitter post on 3rd June.
CryptosBatman, a Twitter user noticed that the listing “$BGBP” appeared on the Binance platform.
Changpeng Zhao, Binance CEO commented on the tweet, confirming that a pound stablecoin is in the testing phase, with only £200 minted.
Zhao was attacked last month for posting about potentially rolling back transactions (re-org) on the exchange after a $40 million hack. He apologized after the incident, saying:
“Given how much I talk, I sometimes say the wrong stuff, dirty words like ‘reorg’, for which I apologize. It is my strong view that our constant and transparent communication is what sets us apart from the “old way of doing things”, even and especially in tough times.”
Later in May, Zhao reportedly sought damages from venture capital firm Sequoia Capital China on the grounds that they damaged his reputation and business due to an improperly-obtained injunction against him in 2017.