Binance USD vs USDQ vs bitCNY
What problem does this service solve?
Binance USD allows traders to convert US Dollars to a digital version without trading fees. | USDQ is a stablecoin designed to facilitate investing in blockchain projects. | bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. |
Token Stats
Company Description
Binance USD stablecoin is backed by US Dollars, and is issued in partnership by Binance and Paxos. The coin is approved by the New York State Department of Financial Services (NYDFS), and allows traders to convert US Dollars to a digital version without trading fees. | USDQ is a stablecoin that is pegged to the US Dollar and is collateralized with Bitcoin. USDQ was issued by a company called Platinum Securities that offers STO and market making services. | bitCNY is a decentralized stablecoin that is pegged to the Chinese Yuan. It is based on the BitShares blockchain and has a Delegated Proof-of-Stake (dPoS) consensus mechanism. As a market pegged asset, the bitCNY token represents the amount of BitShares (BTS) that are equivalent to one Chinese Yuan. |