October 11, 2019 Binance has launched a 1:1 XRP-pegged token on its decentralized exchange, Binance DEX.

The XRP-BF2 token aims to facilitate instant swapping from Binance to Binance DEX without slippage. The token is preceded by a similar BTC-pegged token, BTCB, and may be followed by tokens pegged to other cryptoassets, according to Binance CEO Changpeng Zhao.