Exclusive

Binance DEX set to list USD, GBP, AUD, CAD, HKD stablecoins from TrustToken

Quick Take

  • Binance DEX is going to list five stablecoins from issuer TrustToken
  • TrueUSD is the first stablecoin to be listed on the exchange from the lot 
  • The rest four stablecoins – TrueGBP, TrueAUD, TrueCAD, and TrueHKD – will be listed in the near future

Non-custodial exchange Binance DEX is soon going to list five new fiat-pegged stablecoins from issuer TrustToken, which is backed by notable venture capital firm Andreessen Horowitz (a16z).

Revealing the news exclusively to The Block, TrustToken said Wednesday that the stablecoins - TrueUSD, TrueGBP, TrueAUD, TrueCAD, and TrueHKD - are launching on Binance Chain, the native public blockchain from the exchange.

Until now, the five stablecoins were only available as ERC-20 tokens on Ethereum.

The launch of the stablecoins on Binance DEX would enable new fiat onramps, increasing options for users to move between cryptocurrencies and bank accounts, TrustToken said. It would also allow the non-custodial exchange’s users to trade the stablecoins with trading fees “as low as 0.04%.”

In June, Stably was the first to issue a stablecoin on Binance Chain and get it listed it on Binance DEX.

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