Major cryptocurrency exchange Binance is seemingly testing a British pound stablecoin on its native blockchain, Binance Chain, as per a Twitter post on June 3.

Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform.

Binance chief executive officer Changpeng Zhao has commented on the tweet, confirming that a pound stablecoin is within the testing part, with solely £200 minted.

Zhao came under fire last month for posting regarding potentially rolling back transactions (re-org) on the exchange once a $40 million hack. Zhao apologized once the incident, saying:

“Given what proportion I speak, I generally say the incorrect stuff, dirty words like ‘reorg’, that I apologize. it's my robust read that our constant and clear communication is what sets US other than the “old approach of doing things”, even and particularly in robust times.”

Later in May, Zhao reportedly sought damages from venture capital firm sequoia Capital China on the grounds that they broke his reputation and business because of an improperly-obtained injunction against him in 2017.

As recently according by Top Market Group, Binance’s decentralized exchange (DEX) web site can geoblock users within the u. s. and 28 alternative countries beginning in July. A pop-up on the web site notes that tryingto access Binance DEX by its website won't be attainable for users with an IP address related to one among the banned countries; but, users will still avail themselves of wallets that support Binance Chain for using Binance DEX.

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