Binance will launch regional analogues of Libra cryptocurrency from Facebook

The initiative is aimed at creating "localized stablecoins and digital assets tied to fiat currencies" in different countries of the world.

The company is confident that Libra is growing "exponentially" and will be able to transform the global financial system. "Instead of resisting the changes and losing opportunities, it is better to accept them. At the same time, Libra requires proper development in a regulated environment," writes Binance.

To justify the launch of Venus, the exchange points to the fact that it is present in several countries, has its own blockchain Binance Chain and strives to break the world's financial superiority.

"Binance intends to enter into an alliance with governments, corporations, technology and other cryptocurrency companies and projects involved in the broader blockchain ecosystem to expand opportunities for the spread of cryptocurrencies in developed and developing countries," the announcement says.

The company recalls that in the past it has already used its blockchain to produce BTCB and BGBP-linked stablecoins.

"Binance will provide technical support, legal risk control systems and multifaceted cooperation throughout the process to build Venus, using its existing infrastructure and links to regulators," Binance adds.

We believe that in the short and long term, stablecoins will increasingly replace traditional fiat currencies and become a new balanced standard for the digital economy," co-founder Binance Yi He said. - We hope to realize our vision of transforming the global financial system, providing more significant financial services and infrastructure, protecting financial security and increasing the economic efficiency of the world's countries.