Changpeng Zhao said Binance is working with multiple governments to launch stablecoins pegged to local currencies, signalling a shift away from dollar-dominated onchain money.
The Binance founder said in a post on X that:
“The exchange is working with more countries and supporting each country in issuing stablecoins pegged to their own national currency.”
He added that:
“Each fiat currency should be represented on the chain,” arguing the stablecoin ecosystem should not be limited to US dollar-based tokens.
Dollar-pegged stablecoins such as USDT and USDC currently dominate crypto markets, acting as the main liquidity and settlement rails across exchanges and decentralised finance.
Zhao’s comments come amid intensifying regulatory debates around stablecoins, as governments examine how privately issued digital currencies interact with payments systems and monetary policy.
Industry analysts say local-currency stablecoins could reshape regulation and payments by bringing banks, fintech firms and exchanges into closer collaboration with governments.
Several countries have already expressed interest in domestic stablecoins for cross-border transfers and local payments, reflecting broader efforts to build blockchain-based financial infrastructure.
The move suggests Binance is positioning itself to support a multi-fiat stablecoin landscape onchain as national digital currencies gain traction.