Binance DEX to Launch Bitcoin Cash-pegged Token
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Binance DEX, Binance's decentralized exchange, has just announced it plans to launch a token linked to Bitcoin Cash.

According to the information provided by the platform through its special section about future listings, Binance DEX will soon add the BCH-1FD, a token that tracks the value of Bitcoin Cash.

The company says "BCH-1FD aims to provide a token pegged to BCH value for trading on Binance DEX. In 2017, the Bitcoin community split into two: BTC and Bitcoin Cash(BCH). BCH is a peer-to-peer electronic cash system."

Changpeng Zhao, Binance's CEO, has said the exchange will allow BCH and BCH-1FD to be converted through deposits/withdrawals. As a result, "there will not be a lot of development work to be done or any potential of conflict of interests."

The total circulating supply of the BCH-1FD is 5,000 BCH, however, it could be increased in the future.

Last month iHodl reported that Binance had acquired a crypto derivatives platform.

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