Binance gives an important announcement of 2024
Binance, the world’s largest cryptocurrency exchange by trading volume, has made a major announcement that could have a significant impact on the crypto industry and its users. On January 4, 2024, Binance revealed that it has partnered with MUFG, Japan’s largest bank and one of the world’s leading financial institutions, to launch a new platform for issuing and trading stablecoins.
Stablecoins are cryptocurrencies that are pegged to a stable asset, such as fiat currencies, commodities, or other cryptocurrencies. Stablecoins can offer the benefits of cryptocurrencies, such as speed, transparency, and low cost, without the drawbacks of volatility and risk. Stablecoins are widely used for various purposes, such as remittance, e-commerce, trading, and DeFi.
The new platform, called MUFG Progmat Coin, is based on the Progmat blockchain, a permissioned ledger developed by…
