Crypto exchange Binance adds support for Circle’s USDC

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

Leading cryptocurrency exchange Binance on Thursday announced that it will provide USDC on its platform. USDC is a stablecoin secured to the UNITED STATE dollar that helps with immediate money transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was launched in September. “For raised openness, USDC has involved a top-level auditing firm to launch month-to-month equilibrium attestations of the corresponding USDC as well as USD balances held/issued,” Binance claimed in the article.

Binance also discussed that it will certainly start trading for USDC/BNB as well as USDC/BTC pairs from November 17. Currently, USDC is only being paired with Binance Coin [BNB] and also Bitcoin [BTC] The exchange said customers can prepare for the listing by depositing USDC in their purses immediately.

“USDC is a stablecoin designed to be fixed one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the rate drifts from this proportion,” the platform said.

Prior to Binance’s listing, U.S.-based cryptocurrency exchange Coinbase had actually added USDC to its platform. “This is the very first time Coinbase has supported a stablecoin,” the exchange said in its main blog site.

Crypto exchanges OKEx and Huobi have actually likewise shared their intention of detailing 4 USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Regulated stable coins work as a middle ground where regulators preserve control, yet the token also supplies far more liberty than conventional fiat for customers. Hope extra will copy/follow/improve, and also for other fiat money too.”

Binance also discussed that it will begin trading for USDC/BNB and also USDC/BTC pairs from November 17. The exchange claimed customers can prepare for the listing by transferring USDC in their pocketbooks quickly.

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

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