Bitcoin Daily: Binance, BitPay Team For Stablecoin Adoption; PPEX Gets Approval To Roll Out In US


Global blockchain firm Binance and blockchain payment service provider BitPay are teaming to increase adoption of the BUSD Binance stablecoin, according to an announcement.

“With BUSD, BitPay expands blockchain payment choices for all our customers across the global payments space who want the flexibility of paying on the blockchain with the stability of the U.S. dollar,” BitPay CEO Stephen Pair said in the announcement.

BitPay will let all of its merchants globally take BUSD as a form of payment through the web and in its cross-border B2B platform without further integration. BitPay merchants and companies can buy BUSD via the Binance Exchange and exchanges that list it.

In other news, LGO Markets is providing credit lines so that its customers can make trades without funding their accounts ahead of time, which is said to be rare in digital currency but common in traditional markets, CoinDesk reported.

CEO Hugo Renaudin told the outlet that the company’s customers can receive an intraday credit line and provide the exchange with the funds when the trading day has concluded. The exchange, which is said to be banking at Signature Bank, reportedly has more than 50 clients in approximately 20 nations. It is reportedly financing the service with a mixture of borrowed capital and funds that it took in from a token sale in 2018.

And, alternative trading system (ATS) the Public Private Execution Network (PPEX) has received the regulatory go-ahead to roll out in the U.S., CoinDesk reported.

North Capital Private Securities, the parent of the trading system, finished its Financial Industry Regulatory Authority (FINRA) continuing membership application in February and notched the Securities and Exchange Commission (SEC) green light last month on its Form ATS filing, per North Capital CEO Jim Dowd.

PPEX reportedly handles secondary trades for exempt securities, with the inclusion of blockchain-native digital assets. The company plans to roll out with the functions for digital asset trading built into its alternative trading system.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.