Binance founder and CEO Changpeng Zhao (CZ) hosted a live Q&A session on Twitter Spaces.
CZ announced that Binance will soon announce another USD stablecoin partner in addition to FDUSD.
He stated that Binance wants to work with as many stablecoins as possible to reduce risks and give users more choice.
He also commented on USDT, the most widely used stablecoin in the cryptocurrency market, which has faced criticism and controversy over its support and transparency.
He criticized the lack of adequate public audit reports of USDT. He said that the token is a bit like a black box and that he would like to see more transparency from Tether, the company behind USDT.
CZ also revealed that Binance has a small team dealing with algorithmic stablecoins, a type of stablecoin that uses algorithms and smart contracts to adjust supply and demand to maintain stability.
*Not investment advice.
