Binance's decentralized exchange plans to add five stablecoins developed by TrustToken, The Block reports.
Binance DEX will add support for TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD, whose prices are pegged to the U.S. dollar, the British pound sterling, the Australian dollar, the Canadian dollar and the Hong Kong dollar, respectively.
All these stablecoins will be released on Binance Chain, the blockchain developed by Binance. Until now, these stablecoins were only available as ERC-20 tokens on ethereum's blockchain.
The launch of these new stablecoins on the platform will allow users to make deposits in new fiat currencies.
The listing of these stablecoins on Binance DEX will increase the options users have to make fiat deposits. While the platform will enable TrueUSD trading today, the company will submit its proposal for listing the other 4 stablecoins in the coming weeks.
TrustToken plans to launch its stablecoins in one or two additional blockchains by the end of the year, as well as to issue the TrueSGD, a stablecoin whose price will be pegged to the Singapore dollar.
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