Facebook hasn’t announced his currency yet but the competitors are already cropping it.
Binance, which is the world biggest cryptocurrency in the world by volume has been announced project venus. Binance takes the initiative to make a localized stable coin. Cryptocurrency use all over the world.
Like facebook’s currency Libra, Venus is an open blockchain project. Nowadays they are seeking partners from government sector especially. This will help to create stable coins which empower the developed and developing countries to spur their currency.
But there is one contradiction between the facebook project and Project Venus. The difference is that the Libra was supported by the hefty amount of documentation. On the other side, Venus not gets so much documentation and details.
Another big difference is that Facebook has already some stable partners. Binance has to call for the interested partners.
“Binance will provide full-process technical support, compliance risk control system and multidimensional cooperation system ti build Venus, leveraging its exist infrastructure and regulatory establishment.” Said by company.