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 revealed that it will provide USDC on its platform. USDC is a stablecoin pegged to the U.S. dollar that promotes instant money transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For boosted openness, USDC has actually involved a top-ranking bookkeeping firm to launch month-to-month balance attestations of the corresponding USDC as well as USD equilibriums held/issued,” Binance stated in the post.

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

“USDC is a stablecoin made to be secured one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the rate drifts from this ratio,” the system said.

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

Crypto exchanges OKEx and also Huobi have actually also revealed their intention of listing 4 USD stablecoins at one go.
Sharing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Regulated stable coins act as a happy medium where regulatory authorities keep control, however the token likewise uses even more flexibility than traditional fiat for customers. Hope extra will certainly copy/follow/improve, and also for various other fiat currencies also.”

Binance likewise pointed out that it will certainly start trading for USDC/BNB and also USDC/BTC pairs from November 17. The exchange said users can prepare for the listing by transferring USDC in their pocketbooks instantly.

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

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