0
📰 News
825 views

Binance's XRP-Pegged Token Now Available for Trading on Its Decentralized Exchange

  • Alex Dovbnya
    📰 News

    Binance announces that an XRP/BNB trading pair is now open for trading on Binance DEX

Binance's XRP-Pegged Token Now Available for Trading on Its Decentralized Exchange
Cover image via news.u.today

Binance, the leading cryptocurrency exchange that makes it hard to keeps up with all of its products, has made an announcement about listing XRP-BF2 on its decentralized exchange.


On Oct. 4, Binance CEO Chanpeng Zhao spilled the beans about the new coin on the block, which will be pegged to Ripple's XRP. However, as reported by U.Today, some of the members of the "XRP Amry" weren't particularly happy about this initiative, claiming that it would create more inflation for Ripple's native token.       

👉MUST READ

Binance Coin (BNB) Price Surges 7 Percent, After Binance Sees Significant P2P Bitcoin Trading Volumes

Binance Coin (BNB) Price Surges 7 Percent, After Binance Sees Significant P2P Bitcoin Trading Volumes

XRP-BF2 is backed 1:1 by Ripple's XRP and issued on Binance Chain, the custom Blockchain of the Malta-based cryptocurrency juggernaut. Numerous projects have already moved from Ethereum to Binance Chain, but the CZ-helmed company took it a tad further by issuing its own versions of top cryptocurrencies. 

Prior to XRP, Binance also rolled out its Bitcoin-pegged token (BTCB) back in June 2019.   

Join our Telegram channel to get news even faster!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
0
📰 News
130 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings