143258
We have the best crypto news feed on Telegram ▶️ Bitcoin Updates ▶️ Trading Signals ▶️ Crypto News ▶️ upcoming ICOs ▪️Join Now: @CryptoNewsSource Admin: @Crypto_Marcus
💰 FTX could launch its own stablecoin via a partnership, says Bankman-Fried
FTX is yet to decide its approach for a potential stablecoin launch, it won't be the first exchange to do so. Rival Binance launched its native stablecoin BUSD in September 2019 in partnership with Paxos. BUSD is currently the third-largest stablecoin in the market, after tether and USDC.
Last month, Binance started to prioritize BUSD over several others on its trading platform. The company announced a "BUSD Auto-Conversion" that converts users' existing balances and new deposits of USDC, USDP and TUSD stablecoins at a 1:1 ratio. Binance also ended trading pairs for the three stablecoins against BUSD and tether — as well as major cryptocurrencies like bitcoin and ether. The share of BUSD trading has increased on the platform, according to data compiled by The Block Research.
Source
/channel/CryptoNewsSource