Binance Jersey Lists Exchange’s New UK Pound-Backed Stablecoin

The Jersey arm of Binance has listed the cryptocurrency exchange’s own British pound-backed stablecoin. Binance announced Friday that Binance GBP (BGBP) is being offered on the fiat-to-crypto platform due to trader demand for more stablecoin options. “There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it,” said Binance CFO Wei Zhou. Binance Jersey launched back in January to offer trading in bitcoin and ethereum against the British pound and the euro. Jersey is a British self-governing dependency.…

Binance Eyes Launch of Crypto Exchange in South Korea

Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

Binance Launches Platform ‘2.0’ as Margin Trading Goes Live

The top crypto exchange by trading volume, Binance, has launched version 2.0 of its platform – a move that officially adds margin trading for its customers. The firm revealed that margin trading was on the way in late May, and said that the service would feature up to 20x leverage soon after. In an announcement Thursday, Binance indicated that leverage (the amount that can be borrowed against a user’s crypto collateral) is just 3x, however. “Your Margin Wallet balance determines the amount of funds you can borrow, following a fixed…

Binance Coin (BNB) Prices Are Flat, Is Changpeng “Killing” ETH?

Binance Coin (BNB) flat-lining, down 3.1 percent Ethereum being sidelined, Binance delisting and shunning ETH trading pairs By rebranding and delisting PHX/ETH trading pairs, observers say Binance is deliberately sidelining Ethereum projects. Understandably, Binance following their mainnet launch is a competitor. At the time of writing, BNB is down 3.1 percent. Binance Coin Price Analysis Fundamentals Competition forces innovation. Following governments and regulator involvement, ICOs as a fundraising model was slowed down. With stringent requirements and outright bans in several countries, including in China and South Korea, project managers were…

Binance Cuts Time Needed for BTC, ETH Deposits and Withdrawals

Binance has just cut the time needed to make withdrawals and deposits in two top cryptocurrencies. The crypto exchange announced Tuesday that it’s adjusted its systems so that the number of block confirmations – in effect, how long before a transaction is considered confirmed as complete and can be executed – has been halved for bitcoin (BTC) deposits to 1 block confirmation. Withdrawals will take two confirmations. For ethereum (ETH) and related ERC-20 tokens, Binance said 12 block confirmations are now required for deposits and withdrawals – that’s down from the previously…

BNB is Fragile Despite Binance Listing Dogecoin and USDT Address Shift

Binance Coin (BNB) down 4.5 percent Dogecoin listed at Binance, shift USDT addresses compliant with ERC-20 standards Drawing attention, Binance listing of DOGE is bullish. The altcoin has the support of John McAfee as well as Elon Musk. For Binance clients, USDT addresses are now ERC-20 compliant following the shift on July 4. Meanwhile, BNB prices are flat above $30. Binance Coin Price Analysis Fundamentals The crypto ecosystem is evolving, and so are crucial appendages that make cryptocurrency a thriving industry. Top of the list is Binance. Irrefutably the world’s…

Dogecoin Price Surges 37% Following Binance Listing Announcement

The price of the popular dogecoin cryptocurrency is surging after the announcement that it will soon be listed on the Binance exchange. Binance said in a support notice that trading will open for dogecoin (DOGE) at midday (UTC) Friday. The exchange will at launch offer trading pairs for DOGE against Binance coin (BNB) and bitcoin (BTC), as well as the stablecoins tether (USDT), Paxos standard (PAX) and USD Coin (USDC). Users can already deposit DOGE in preparation for trading, the exchange said. The news has given a big boost to the price of…

Binance in Discussions with Facebook Over Libra Coin

According to CoinTelegraph, one of the world’s largest crypto exchanges, Binance, is in “official” talks with Facebook regarding the latter’s new Libra coin. The exchange’s strategy officer, Gin Chao, told BlockTV yesterday that the company is “very excited” about the Libra project. What we know so far, according to Chao, is that the talks “have largely focused on dealing with infrastructure.” Binance and Libra Coin While the pair’s discussions are in the early stages, it seems Binance is not holding back its desire to work with Libra “as much as…

Binance Talking to Facebook About Libra Listing: Reports

According to reports in the crypto press Thursday, cryptocurrency exchange Binance is talking to Facebook about getting involved in the social media giant’s upcoming Libra project. Finance Magnates says it spoke to Binance at the FinTech Junction event in Israel on Thursday, with the exchange’s CSO, Gin Chao, saying that early discussions have taken place with Facebook over a possible future listing of the libra token. Chao said that as libra will be on a private blockchain initially, it won’t need external liquidity. However, Facebook may ultimately desire a secondary market, he said, adding: “Currencies…

Binance Coin (BNB) Likely To Retrace In Days Ahead, Capped at $38

Binance Coin (BNB) steady The road to compliance demands aligning with regulators’ needs. The loss of US clients is a blow to Binance and BNB. However, the decision will be beneficial in the long term as Binance restructure, leaning towards regulatory compliance. From the charts, BNB is stable. Nonetheless, it is the second worst performing digital asset in the top 10. Binance Coin Price Analysis Fundamentals There is a transition going on in Binance. Known for their aggressive expansions, Changpeng Zhao and team appear to be taking a step back.…