Binance plans to launch Venus regional stablecoins project

The world’s largest cryptocurrency exchange Binance plans to launch the Venus project, which will become an “independent regional version of Libra”.

Binance has announced plans to launch the Venus blockchain project, an initiative to develop regional stablecoins and digital assets tied to fiat currencies around the world.

According to the announcement, Binance seeks to create new alliances with governments, corporations, technology and cryptocurrency companies, as well as projects involved in the blockchain industry, to enable developed and developing countries to stimulate the emergence of new currencies.

According to Binance, Venus aims to put an end to financial hegemony with the power of technological innovation created by cryptocurrencies. According to the company, Venus will become an “independent regional version of Libra,” however, unlike the Libra project, Venus should not run into regulatory problems.

The announcement said that Binance has already created a streamlined network for working with regulators around the world and plans to create a global, multi-dimensional client network and a law compliance system. The company has already prepared the basis for safe work with new stablecoins – Binance Chain.

“The modern Binance Chain network works safely and reliably and has already released stablecoins based on BTC and the British pound. After repeated optimization, our speed of transferring funds is already comparable to the traditional banking payment system. ”

Binance notes that countries that are the first to adopt new technologies will have an edge. The company welcomes cooperation with additional government partners, companies and organizations that are interested in creating a new open alliance and a sustainable community.

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Primitive Ventures Investment Blockchain Founder, Dovey Wan expressed Your opinion on the Binance statement:

“It seems to me that this will be another impetus to the spread of the Binance Chain, and this is quite logical. What step can be more confident than the release of digital versions of fiat currencies on the Binance Chain? ”