Binance Will Launch BTCB Backed By BTC

Binance has announced that it wants to launch a number of cryptocurrencies on Binance’s blockchain, which will be linked and supported by several known coins.

The platform is now launching the BTCB coin, supported by the BTC, to be traded on Binance DEX.

The platform intends to provide these cryptocurrencies to provide trading options against the Bitcoi  pairs and other major coins via the decentralized Binance platform .

According to the platform announcement, digital currencies such as the digital currency (BTCB) will be 100% backed by BTC. The addresses of the wallets that will store the BTC (hold it) will be published for review on the blockchain and transparency in the Crypto market.

Binance has just booked the 9001 BTC Unit and the address for the currency reservation has been posted. You can see it through the Blockchain browser here .

“The key benefit of offering these cryptocurrencies is to offer the option of trading in the decentralized Binance platform against many major digital currencies. This is expected to result in an increase in volumes and liquidity. “

The BTCB is expected to be included in the Binance CEX as well as in the Binance DEX.

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view

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