CertiK Announces the Completion of British Pound Backed Stablecoin on Binance
In a report by a blogging site, CertiK had announced it had completed an audit on the British pound backed stable coin on the biggest cryptocurrency exchange platform Binance, the BGBP. In an interview with Bloomberg some weeks ago the CFO of Binance Wei Zhou, had given hints about the exchange's plan to issue its own stable coin.
According to the Exchangers representative, the token was going to be referred to as Binance GBP and was going to be fully backed by British pounds reserves. He also stated that in the nearest future more fiat currency backed stablecoins would be introduced on the platform.
After the completion of the verification process by CertiK and absolutely ensuring there are no vulnerabilities within the system they made a tweet on their twitter handle to this effect. BGBP being a dual-issue token was created on both the Ethereum (ERC-20) and Binance (BEP2) Chains. The Binance GBP is currently trading on the Binance.com and Binance.je exchanges.