Binance has recently announced plans for its new open blockchain project called Venus on its official website.
In the post, they describe that the Venus project was born as an initiative to develop localized stablecoins and USD-anchored cryptocurrencies worldwide.
The report expresses that Binance is in search of new alliances with governments, corporations, technology companies and more cryptocurrency initiatives, including projects based on blockchain technology. The exchange seeks to empower developed and developing countries to boost new assets.
They also indicate that with the existing global blockchain ecosystem, the organization has reserved its public chain technology and its cross-border payment system for secure operations of new stable currencies.
That is why they will work with Binance Chain, which has been operating safely by issuing a variety of stable currencies, including a stable currency linked to Bitcoin (BTCB) and the stable Binance currency (BGBP) linked to the pound sterling, they point out in the post.
In addition, Binance will provide “full process technical support, compliance risk control system and multidimensional cooperation network to build Venus, leveraging its existing infrastructure and regulatory establishments.”
Since its announcement in early 2018, Binance Chain was one of the most anticipated blockchain projects, the Exchange’s own decentralized Blockchain platform was built to maintain its position as a leader in the cryptocurrency industry.
Binance launched its blockchain protocol on April 18 and made the first launch of a project on its network, it is that Mithril migrated to the chain and his MITH token was transferred from ERC-20 to the BEP2 Binance standard.
Last month, Binance announced the launch of BEP2 tokens in the Binance Chain linked to major cryptocurrencies starting with Bitcoin.
The company said in a blog post that the debut token, BTCB linked to Bitcoin, will be included in Binance.com negotiable against BTC (BTCB/BTC), and its inclusion in Binance DEX would also be proposed, the exchange said.