Binance launches Venus, which it calls an 'independent, regional version' of Facebook's Libra

Binance, the world’s largest cryptocurrency exchange, announced today that it will launch an open blockchain project called Venus to develop regional stablecoins pegged to fiat currencies (or traditional currencies usually issued and backed by a government). Based in Malta, Binance launched its decentralized trading service, Binance Chain, earlier this year, and since then has issued stablecoins pegged to Bitcoin and the British pound. In its English-language announcement, Binance said Venus’ goal is “to empower developed and developing countries to spur new currencies,” but did not mention Libra, Facebook's cryptocurrency project.