About a week ago, it became apparent Binance was in the process of issuing its own stablecoin. While not too much was known about the project at that time, it seems a lot of things have changed in a short amount of time. Some of the initial remarks are no longer valid, albeit there is still a lot of information missing at this time.
When Binance first announced its stablecoin plan, it became apparent the company was looking into an asset pegged to the British Pound Sterling. A bit of an unusual decision, primarily because it seems GBP trading pairs are not all that popular in the cryptocurrency industry. That doesn’t mean there won’t be a demand for such a stablecoin, however, as it seems this market should never be overlooked.