Cryptocurrency trading giant FTX Derivative Exchange could soon launch its own stable coin as confirmed by its founder and CEO, Sam Bankman-Fried.

Speech In an interview with Web3 news outlet The Big Whale, Bankman-Fried discussed a number of industry perceptions regarding the exchange’s position at the top of the ongoing crypto winter.

Contrary to popular belief that FTX is the biggest winner in the industry based on its success in acquiring Voyager Digital Y BlockFiboth crypto lenders who were upset when asset prices fell, Bankman-Fried reiterated that their role, regardless of perception, is to help maintain the balance of the industry which, in turn, will benefit everyone.

Acknowledging that this current crypto winter is the “first real bear market we’ve been through,” the FTX boss acknowledged that the market downtime isn’t affecting his business as such, as he’s always innovating.

“One of the main characteristics of crypto platforms is that our operation is not affected by the market downturn more than that,” he said, “Every day we continue to grow the business, creating services and new tools for clients. So, yes, the markets are less dynamic, things are a little more tense, but in the end, it does not lead us astray.

While the plan to launch the stablecoin did not come with many details other than that it will be done in partnership with other key players in the space, the move did not come as a surprise seeing Binance exchange trading platform FTX is still trying to win. in terms of daily trading volume, it has launched its own stablecoin.

The collapse of TerraUSD (UST), the token tied to the Terra ecosystem, has sent a chill through the Web3 ecosystem with intense scrutiny and oversight from regulators. with FTX positionthe exchange may be well positioned to launch a stablecoin that will align with the regulator’s guidelines.

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