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Cryptocurrency exchange Binance has unveiled plans to develop stablecoins and digital assets pegged to fiat currencies around the world.

In a brief statement, Binance says it wants to create alliances with governments, corporations, technology companies, and other cryptocurrency outfits “to empower developed and developing countries to spur new currencies”.

It plans to do this through the new project, dubbed Venus, using its public chain technology and cross-border payments system, promising “full-process technical support, compliance risk control system and multi-dimensional cooperation network”.

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