World’s largest cryptocurrency exchange Binance launched the stablecoin BKRW on binance chain which backed by the Korean currency South Korean won KRW, reported on 05 March 2020.
According to the report, Binance has issued Binance KRW (BKRW), a BEP-2 stablecoin which is pegged to KRW by doing a partnership with BxB, Inc. of South Korea. BKRW token will be available for trading at a rate of 1 BKRW = 1 KRW ( South Korean won ).
Binance is also working to integrate BKRW token into the global ecosystem and reported to do some announcement very soon in the near future regarding further details and listing timelines of BKRW.
You can check the BKRW token on the binance explorer by visiting the following link shown below:
BKRW Token Explorer: https://explorer.binance.org/asset/BKRW-AB7
A month ago, Binance allowed its users to buy cryptocurrencies directly with 15 Fiat currencies via visa and MasterCard on Simplex,
Recently, The amendment to the Special Reporting Act passed in South Korea by which cryptocurrency becomes fully legal in the country,
Last month, Binance announced to launch the Binance Cloud platform that allows users to launch their own cryptocurrency exchange,