# Binance lists GBP-backed stablecoin 'BGBP'

By Charissa Echavez

Canonical URL: https://www.tokenpost.com/news/business/2735
Published: 2019-07-23T03:25:32.000Z
Updated: 2019-07-23T03:25:32.000Z
Section: Business

> Cryptocurrency exchange Binance is adding support for GBP-backed stablecoin, Binance GBP Stablecoin (BGBP), as per its announcement.

Cryptocurrency exchange Binance is adding support for GBP-backed stablecoin, Binance GBP Stablecoin (BGBP), as per its [announcement](<https://binance.zendesk.com/hc/en-us/articles/360030827252-Binance-Will-List-Binance-GBP-Stable-Coin-BGBP->).

[#Binance](<https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw>) Will List Binance [$GBP](<https://twitter.com/search?q=%24GBP&src=ctag&ref_src=twsrc%5Etfw>) Stable Coin ( [$BGBP](<https://twitter.com/search?q=%24BGBP&src=ctag&ref_src=twsrc%5Etfw>))[https://t.co/VLyREjUedU](<https://t.co/VLyREjUedU>) [pic.twitter.com/G5tMxIaVbc](<https://t.co/G5tMxIaVbc>)

— Binance (@binance) [July 22, 2019](<https://twitter.com/binance/status/1153269130318888960?ref_src=twsrc%5Etfw>)

BGBP is a Binance-issued token and is 100% backed by the same amount of GBP held by Binance in a bank account.

Binance will allow its users to trade BGBP in BGBP/USDC trading pair. Trading will be available today (July 23, 2019) at 4:00 UTC time. The listing fee is 0 BNB.

Users can also buy and trade BGBP [at Binance Jersey](<https://tokenpost.com/Binance-Jersey-announces-listing-of-GBP-backed-stablecoin-BGBP-2708>), its European subsidiary that was launched earlier this year.

The listing follows [media reports](<https://tokenpost.com/Binance-Jersey-announces-listing-of-GBP-backed-stablecoin-BGBP-2708>) in June that Binance was preparing to launch its own stablecoin pegged on GBP, with CEO Changpeng Zhao confirming and revealing the minting of £200 at the time.

Binance Chief Financial Officer Wei Zhou also noted the overwhelming demand for “stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it.” He also revealed that the use cases and utility of stablecoins have tripled since the start of 2019.

## Links in this article

- [announcement](https://binance.zendesk.com/hc/en-us/articles/360030827252-Binance-Will-List-Binance-GBP-Stable-Coin-BGBP-)
- [#Binance](https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw)
- [$GBP](https://twitter.com/search?q=%24GBP&src=ctag&ref_src=twsrc%5Etfw)
- [$BGBP](https://twitter.com/search?q=%24BGBP&src=ctag&ref_src=twsrc%5Etfw)
- [https://t.co/VLyREjUedU](https://t.co/VLyREjUedU)
- [pic.twitter.com/G5tMxIaVbc](https://t.co/G5tMxIaVbc)
- [July 22, 2019](https://twitter.com/binance/status/1153269130318888960?ref_src=twsrc%5Etfw)
- [at Binance Jersey](https://tokenpost.com/Binance-Jersey-announces-listing-of-GBP-backed-stablecoin-BGBP-2708)