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

Libra Coin News
Thu, 10/10/2019 - 17:40
Alex Dovbnya
Binance announces that an XRP/BNB trading pair is now open for trading on Binance DEX
Cover image via 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.       

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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.   

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.

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