BlockchainCryptocurrency

Stablecoin is very important for the Crypto Industry, CEO of Binance US

Binnace US is the subsidiary branch of Binance that is serving only the US territory. Recently, its CEO gave its views about the importance of stablecoins for the crypto community. Binance has recently supported Stellar and Cardano with its Stablecoin, BUSD.

Adoption of Fiat-backed Coins

Now, more and more digital currency based platforms are issuing their stablecoins in the markets. Of course, there is a solid reason behind the issuing of the stablecoins backed by major fiat currencies. Most of the crypto investors and experts think that fiat-backed coins are less volatile and in turn, help in minimizing the high volatile nature of the digital currency. So, it has a very integral part of improving the financial system.

But there are also opinions prevalent in the industry that stablecoin in the future will have a bad effect on financial stability. But the views of the chief executive of the Binance.US are in favor of fiat-backed coins.

Views of Catherine Coley about Stablecoin

During the session ’Ask Me Anything (AMA), the CEO of Binance US, Catherine Coley, talked about the development projects that are currently active and about the future plans of the company. There was also a discussion about the flexibility of the Stablecoin. He said that these help traders and investors to remain engaged in the crypto community. According to him:

Stablecoins provide an ability to still stay engaged [with the crypto industry] without being fully binary, like completely in the system or out of the system.

Important for Digital Economy

The stablecoin of the Binance is called Binance USD (BUSD) which is backed by the US dollar. And similarly, many other crypto firms have issued the Stablecoins to engage the maximum crypto lovers. Joseph Lubin, the Co-founder of Ethereum also accepted, recently, that these fiat-backed coins are very important for the growth of the digital economy.

📰 Also read:  Meme Coin Craze Fuels Solana Rally - Is $180 the Next Stop for SOL?

The subsidiary franchise of Binance has been trying to expand its services to all the states of the US as per the company CEO. Currently, it has access to only 13 states of America.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Price Analysis October 10th, 2024 - BTC, BNB, ETH, SOL, ADA, and SHIB

Davis Byrne (US)

Davis Byrne got into the cryptocurrency world in 2013. He contributes technical chart-based price updates and price analysis on the world's leading digital currencies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content