British startup London Block Exchange announced the approval for the launch is backed by a pound stablein LBXPeg.
The company London Block Exchange (LBX) is planning the launch of a new cryptocurrency – “the world’s first backed by GBP stablein” that the assurances of a startup CEO Benjamin Davisa, will appear within 10 days.
LBX is proud to announce the worlds first GBP backed stablecoin!
— LBX, The London Block Exchange (@LBXSocial) September 29, 2018
British startup said 28 September on receipt of permission from the partner Bank. Name of the Bank that will Deposit reinforcing the cryptocurrency in the ratio 1:1 reserves, not yet reported, but the head of the company assured that the reserves will be subject to regular independent audit at a leading audit company.
The company London Block Exchange calls itself “the only London-based a crypto currency exchange that offers a ensure the safety of banking in the UK”. The company offers OTC services, along with educational services in the framework of the project “Cryptically” (College Of Crypto).
According to a press release from the 29th of September, stablein at the moment is the token ERC-621 standard ERC-20 on the Ethereum blockchain.
According to the company, LBXPeg – the need in the market caused by lack of confidence in most projects: the company believes that most stabilio on the market “are not suitable for the needs of businesses, traders and consumers”.
The number stabilio has increased dramatically over the past 18 months: only a few days ago Circle launched stablly USDC, and in the first half of September, the NYDFS regulator approved the launch stabilio from Gemini and Paxos.
Also recently it became known that Switzerland is planning to create their own national cryptocurrency, backed by the Swiss franc. On the development backed by the Swiss franc stablein also said this week Dukascopy Bank.