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

Top cryptocurrency exchange Binance on Thursday announced that it will certainly list USDC on its platform. USDC is a stablecoin fixed to the U.S. buck that assists in immediate money transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For raised transparency, USDC has actually involved a top-ranking auditing firm to launch monthly balance attestations of the equivalent USDC and also USD balances held/issued,” Binance claimed in the post.

Binance also discussed that it will certainly begin trading for USDC/BNB as well as USDC/BTC pairs from November 17. BTC] The exchange said users can prepare for the listing by depositing USDC in their purses quickly.

“USDC is a stablecoin designed to be fixed one-to-one with USD (1 USDC = $1 USD). Please be mindful if/when the price deviates from this proportion,” the platform stated.

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

Crypto exchanges OKEx as well as Huobi have likewise revealed their intent of noting 4 USD stablecoins at one go.
Revealing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Regulated steady coins serve as a happy medium where regulators maintain control, yet the token also uses much more liberty than typical fiat for customers. Hope more will certainly copy/follow/improve, as well as for various other fiat currencies too.”

Binance also pointed out that it will certainly start trading for USDC/BNB and USDC/BTC pairs from November 17. The exchange said individuals can prepare for the listing by depositing USDC in their budgets promptly.

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

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