By mobilecoin
01/09/2024
On January 4, Binance announced that it would classify MobileCoin’s $MOB as a volatile asset using its monitoring label. As an early adopter of $MOB, Binance has been a supporter of our project since its inception. While the recent decision is disappointing, we continue to focus on what’s important: improving the global financial ecosystem and making payment technology faster, more secure, cost-effective, and fair for everyone.
At its core, MOB is a market-responsive asset; it is not a stablecoin. We have always believed that it is not suitable for those who want to send a fixed-value token. $MOB's true value comes from its vibrant community of privacy advocates and unique cryptographic advances that others have not yet mastered, not market prices. Through our novel no-mining design, we are proud to create an environment where affordable transactions, speed, and respect for individual rights are the focus.
In October 2022, with Appointment MobileCoin, we launched eUSD, the first stablecoin to be issued through a pool of multiple stablecoins. This currency provides users with the stability they need while remaining uncompromising in their ability to make secure payments and keep personal data private. This token is used by many of our partners and in our native application. We believe eUSD will be the future of cross-border payments.
A key challenge for emerging projects like ours is to demonstrate strong protections to mitigate potential risks for platforms considering listing. With this in mind, MobileCoin’s development team has designed advanced backend technology to enhance the security of our system and reshape the industry standard for compliance. Our core mission is to build a compliant ecosystem that uncompromisingly prioritizes data ownership and security.
MobileCoin thanks its investors and our community for their unwavering support. We are excited to continue scaling our technology globally and creating a payments environment that can be utilized by individuals and institutions alike.
