Binance has announced that it is launching “Project Venus” which aims to develop stablecoins and digital assets pegged to fiat currencies across the globe. Binance Project Venus Similar to Libra.
The company is looking to establish new partnerships and alliances with governments, corporations, technology companies, and other cryptocurrency companies. It also plans to create projects involving the bigger blockchain ecosystem. This is to empower advanced and developing nations to spur fresh currencies.
Binance has already confined its public chain technology and cross-border payment system for the safe operation of new stablecoins.
Previously, the exchange launched two stablecoins, BTCB, pegged to bitcoin, and BGBP pegged to the British pound on Binance Chain.
The exchange further said that it will provide technical support and a compliance risk control system throughout the process. It will also aid the multi-dimensional collaboration of networks to build Venus, leveraging its current infrastructure and regulatory facilities.
The company stated:
“Binance welcomes additional government partners, companies and organizations with a strong interest and influence on a global scale to collaborate with us to build a new open alliance and sustainable community.”
Binance Project Venus Similar to Libra. Binance’s ambitious project seems to compete directly with Facebook’s latest stablecoin project, Libra.
By choosing its name, “Venus,” Binance is also entering the zodiacal space as the Facebook project is called Libra, and the Winklevoss Twins is dubbed Gemini Dollar.