Binance Looks to Add New Stablecoins

Stablecoins have recently become one of the hot topics in the market and the world’s largest cryptocurrency exchange currency is considering listing more stablecoin. Binance’s chief financial officer Zhou Wei said, “We hope to be able to list a few more stablecoins on our platform”, which also indicates that it still supports Tether (USDT) and that institutional investors are more inclined to hold stablecoins.

At present, the currency supports three stable currencies, namely Tether (USDT), Paxos Standard (PAX) and TrueUSD (TUSD). At the same time, the company’s research team is working to assess the rest of the market’s stablecoins, including last month’s release of the Gemini Dollar (GUSD).

At the beginning of this week, the USDT price suddenly fell sharply and then stabilized. It was reported at 0.98 US dollars at 6AM PST. Wei believes that the rumors of inaccuracies in the market have caused the price of USDT to oscillate. However, as familiar stablecoin to investors, USDT is still very important to the exchange ecology. Therefore, “I believe that the event will pass and will continue to support Tether.”