Rumors are beginning to circulate suggesting that , a major crypto exchange, will launch its own dollar-pegged stablecoin. The inaugural release of ’s new podcast has spurred plenty of speculation, and although nothing has been confirmed yet, many people are beginning to ask: will release a stablecoin?
Podcast Provokes Speculation
On Tuesday, released a brand new podcast. In the first-ever episode, two prominent personnel discussed stablecoins from , IBM, and . In a less noteworthy episode, this might be considered a normal topic, but many people now believe that is more interested in stablecoins than it is letting on.
In the premiere episode of the Podcast – “What are Stablecoins & why are , & working on it?” CFO discusses & their impact on finance with Head of OTC .
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— Info (@Binance_Info)
Zhao on Stablecoins
hasn’t confirmed that it is working on a stablecoin. However, CEO Changpeng Zhao has made some cryptic and suggestive comments. In response to speculation on Twitter, Zhao “be careful what you wish for.” And when another user asked about “ Stable Coin,” Zhao , “Good name, may steal it for later.”
This would also be an opportune time for to build anticipation, as Tether—the largest stablecoin in existence—is . Although is not responsible for Tether’s failings, it could build trust by handling Tether’s crisis gracefully. Indeed, Zhao has recently taken steps a regular Tether rotation and reassure users that funds are safe.
Zhao also seems to see other stablecoins as competition. Recently, he has asked commenters to think critically about bank-issued stablecoins. He has also even controversial stablecoins will contribute to crypto . These facts reveal no inside information, but they are additional signs of ’s interest in stablecoins.
Will It Happen?
All of the above is hardly conclusive evidence that plans to introduce its own stablecoin. However, undoubtedly has the capacity to create one: by launching in 2017, it has proven that it can create a very successful . also has Chain at its disposal, which can be used to power new coins.
Furthermore, ’s standing as one of the largest crypto exchanges means that it is in an extremely good position to create a stablecoin. In fact, it would not be the first platform to do so: Circle and have both created their own stablecoins— and respectively. would be in good company if it does decide to join in.
At the same time, it’s not clear that really needs its own stablecoin. currently lists several different stablecoins on its exchange, and it hasn’t hinted at any unique use cases for an in-house stablecoin. It is entirely possible that really is just interested in the stablecoin trend in a general sense—at least for now.
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Published at Sun, 05 May 2019 20:38:44 +0000
