Rival To Facebook’s Libra Is Ready!

Binance recently revealed it’s open blockchain project “Venus” focused on developing localized stablecoins worldwide.

In an announcement on Aug 19, Binance argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures.

Binance is looking out for partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries.

As per the report, Binance’s vision for the project, is to “build a new open alliance and sustainable community” that enlists partners who wield influence on a global scale.

With its choice of name, “Venus,” Binance is also stepping into the astrological waters of both Facebook’s Libra project and the Winklevoss Twins’ Gemini exchange and Gemini dollar.