# Cryptocurrency exchange Binance trials British Pound stablecoin By Shampa Mani Canonical URL: https://www.tokenpost.com/news/business/2095 Published: 2019-06-04T11:49:13.000Z Updated: 2019-06-04T11:49:13.000Z Section: Business > Cryptocurrency exchange Binance has confirmed that it is trialing a stablecoin pegged to the British pound. Cryptocurrency exchange Binance has confirmed that it is trialing a stablecoin pegged to the British pound. In a tweet dated June 03, a Twitter user “CryptosBatman” shared an image showing BGBP (Binance GBP stablecoin): BIG NEWS! It looks like [@Binance]() has issued their Stable Coin [$BGBP]() on Binance Chain! It's incredible how fast Binance moves. I can't say enough how big this is for Binance and Binance Chain. Expect [$BNB]() to skyrocket from here! [pic.twitter.com/FAEdvMG2tF]() — CryptosBatman ⚡ (@CryptosBatman) [June 3, 2019]() Replying to the above tweet, Binance CEO Changpeng Zhao confirmed the ongoing development and said £200 have been minted so far. This is in testing phase still, only £200 minted so far. Slowly, but surely... — CZ Binance (@cz_binance) [June 3, 2019]() Binance [launched]() Binance Chain, its native blockchain platform, in April this year. Soon after, it launched its decentralized exchange [Binance DEX on Binance Chain]() and also [migrated]() its BNB tokens from Ethereum to its proprietary blockchain platform. The exchange suffered a major hack last month in which it lost 7000 BTC (approximately $40 million). The company said at the time that it will use the Secure Asset Fund for Users (SAFU fund) for fully covering the losses. More recently, Zhao [sought damages]() from venture capital firm Sequoia Capital China alleging that the latter hurt his reputation and unjustly prevented him from raising capital during its now-dismissed legal suit against him. OKLink, a subsidiary of cryptocurrency exchange OKEx, is also preparing to launch a [new stablecoin](), USDK, pegged to the US dollar in collaboration with Prime Trust, a US-licensed trust company. G M T Y Detect languageAfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu AfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu Text-to-speech function is limited to 200 characters Options : History : Feedback : [Donate]() Close ## Links in this article - [@Binance](https://twitter.com/binance?ref_src=twsrc%5Etfw) - [$BGBP](https://twitter.com/search?q=%24BGBP&src=ctag&ref_src=twsrc%5Etfw) - [$BNB](https://twitter.com/search?q=%24BNB&src=ctag&ref_src=twsrc%5Etfw) - [pic.twitter.com/FAEdvMG2tF](https://t.co/FAEdvMG2tF) - [June 3, 2019](https://twitter.com/CryptosBatman/status/1135480963922874370?ref_src=twsrc%5Etfw) - [June 3, 2019](https://twitter.com/cz_binance/status/1135486986788040705?ref_src=twsrc%5Etfw) - [launched](https://tokenpost.com/Binance-announces-mainnet-launch-of-blockchain-platform-Binance-Chain-1692) - [Binance DEX on Binance Chain](https://tokenpost.com/Binance-launches-decentralized-exchange-Binance-DEX-on-Binance-Chain-1715) - [migrated](https://www.fxstreet.com/cryptocurrencies/news/binance-completes-bnb-migration-to-binance-chain-201904231033) - [sought damages](https://tokenpost.com/Binance-CEO-CZ-seeks-compensation-for-reputational-damage-from-Sequoia-1966) - [new stablecoin](https://tokenpost.com/OKLink-Prime-Trust-to-launch-USD-pegged-stablecoin-USDK-2083) - [Donate](https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=GD9D8CPW8HFA2)