The Binance DEX cryptocurrency exchange plans to add five new stablecoins issued by TrustToken to the trading platform.
According to representatives of TrustToken, Binance DEX will list TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD. The exchange rate of these cryptocurrencies is pegged to the US dollar, the British pound, the Australian dollar, the Canadian dollar and the Hong Kong dollar, respectively.
All five assets will be released on the Binance Chain blockchain. Before that, stablecoins were on the Ethereum blockchain in the ERC-20 token format.
It is expected that due to the addition of new tools, users of the exchange will have more opportunities when working with fiat deposits. TrueUSD trading on Binance DEX starts today, August 8. The remaining stablecoins should be added within the next few weeks.
“Our goal is to provide easy access to stable coins to as many users as possible. These tools can be trusted, ” said Jai An, co-founder and CEO of TrustToken.
The company’s further plans are to launch its own stablecoins on one or two additional blockchains. This is planned to be done by the end of this year. TrustToken also intends to create a new stable coin-TrueSGD, which will be pegged to the Singapore dollar.
Recently, TrustToken entered into a partnership with the cryptocurrency credit startup Cred, which allows stablecoin owners to earn up to 8% per annum using the CredEarn platform. In addition, in June, Binance DEX added the USDS stablecoin to the listing.B from the startup Stably, and on the main site Binance.com the BGBP stablecoin, created by the exchange itself, appeared