Binance is launching an open blockchain project Venus focused on developing localized stablecoins worldwide and is well-positioned to launch a currency ecosystem in light of its existing public chain technology, Binance Chain.
Binance said Venus’ goal is “to empower developed and developing countries to spur new currencies,” but did not mention Libra, Facebook’s cryptocurrency project.
While Libra’s goal is to create a global digital currency that allows people to avoid the fees associated with credit cards and remittance services, Binance says Venus’ objective is to enable developing countries to “have more financial autonomy” and “protect their financial security” by helping them create new digital currencies.
What do you guys think about both the coins, an existing crypto company launching a coin or a social media giant, having a large adaption, which will make larger impact?