Binance DEX Cryptocurrency Exchange plans to add five new stablecoins issued by TrustToken to the trading floor.
According to representatives of TrustToken, Binance DEX will list TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD. The cryptocurrency exchange rate is tied to the US dollar, British pound, Australian dollar, Canadian dollar and Hong Kong dollar, respectively.
All five assets will be released on the Binance Chain blockchain. Prior to this, stablecoins were on the Ethereum blockchain in the ERC-20 token format.
It is expected that thanks to the addition of new tools, exchange users will have more opportunities when working with fiat deposits. TrueUSD trading on Binance DEX starts today, August 8th. The remaining stablecoins should be added over the next few weeks.
“Our goal is to provide easy access to stable coins to as many users as possible. You can trust these tools, ”said TrustToken co-founder and CEO Jai An.
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 tied to the Singapore dollar.
TrustToken recently entered into a partnership with Cred, a cryptocurrency credit startup, which allows stablecoin owners to earn up to 8% per annum using the CredEarn platform. In addition, in June Binance DEX added a stableable USDS.B stablecoin to the listing from the Stably startup, and the BGBP stablecoin created by the exchange itself appeared on the main Binance.com site.