With the recent news that Binance will be launching their own stable coin on their platform, could stable coins suffer from Binance launching their own reserve-backed stable coins on their exchange in the future?
The growth of stable coins in 2018 stemmed from the lack of choice in the market when Tether came under fire for potentially not being backed by reserves, people felt the need to move to another token that was stable but there were none. Fast forward to 2019 and there are now more stable coins in use than ever before, with the number continuously growing.
Bitcoin back over $8,000! Is BTC off to the races?
Binance have announced that they will be launching their own stable coin…