Binance Launches BTC-Pegged Token BTCB on Its Blockchain

[ChainDD report] June 18 (ChainDD) Binance announced on June 17 it will launch a Bitcoin-pegged token BTCB on its blockchain Binance Chain. The token will be used for trading on Binance as well as Binance decentralized exchange Binance DEX.

Binance said BTCB is 100% backed by the Bitcoin in reserve and Binance will issue a series of tokens pegged with different major cryptocurrencies.

CSDN’s vice president Meng Yan commented Bitcoin will use BTCB as part of preparation for credit expansion.

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