Crypto exchange Binance adds support for Circle’s USDC

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November 15, 2018 by
Crypto exchange Binance adds support for Circle’s USDC

Leading cryptocurrency exchange Binance on Thursday introduced that it will certainly list USDC on its system. USDC is a stablecoin secured to the UNITED STATE dollar that facilitates instant cash transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For enhanced openness, USDC has actually involved a top-level auditing firm to release monthly balance attestations of the matching USDC as well as USD equilibriums held/issued,” Binance said in the article.

Binance additionally mentioned that it will certainly start trading for USDC/BNB and also USDC/BTC pairs from November 17. Currently, USDC is just being coupled with Binance Coin [BNB] as well as Bitcoin [BTC] The exchange said users can plan for the listing by transferring USDC in their wallets quickly.

“USDC is a stablecoin created to be pegged one-to-one with USD (1 USDC = $1 USD). Please be mindful if/when the price deviates from this ratio,” the platform claimed.

Before Binance’s listing, U.S.-based cryptocurrency exchange Coinbase had added USDC to its platform. “This is the first time Coinbase has sustained a stablecoin,” the exchange claimed in its main blog.

Crypto exchanges OKEx and Huobi have actually additionally revealed their intention of providing 4 USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Controlled stable coins work as a middle ground where regulatory authorities keep control, yet the token additionally offers even more liberty than typical fiat for customers. Hope extra will copy/follow/improve, and for other fiat money too.”

Binance additionally discussed that it will begin trading for USDC/BNB and USDC/BTC sets from November 17. The exchange claimed customers can prepare for the listing by transferring USDC in their wallets immediately.

“USDC is a stablecoin made to be secured one-to-one with USD (1 USDC = $1 USD).

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