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, BGBP.

AccessTimeIconJul 19, 2019 at 12:11 p.m. UTC
Updated Sep 13, 2021 at 11:12 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.

The Jersey platform expects to add more cryptocurrencies in the future, while further developing the platform’s technology and customer experience, the exchange said.

Binance is also expected to launch more fiat-based stablecoins going forward, and has also started rolling out tokens pegged to cryptocurrencies like bitcoin.

Binance image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.