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 introduced that it will certainly detail USDC on its system. USDC is a stablecoin fixed to the U.S. dollar that facilitates instant cash transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For increased transparency, USDC has engaged a top-ranking auditing company to release monthly balance attestations of the matching USDC and also USD balances held/issued,” Binance stated in the blog post.

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

“USDC is a stablecoin created to be secured one-to-one with USD (1 USDC = $1 USD). Please be careful if/when the rate drifts 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 main blog.

Crypto exchanges OKEx and also Huobi have additionally shared their intention of listing four USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Controlled stable coins act as a middle ground where regulatory authorities preserve control, yet the token likewise supplies far more flexibility than typical fiat for users. Hope extra will copy/follow/improve, as well as for other fiat money as well.”

Binance also mentioned that it will start trading for USDC/BNB and also USDC/BTC pairs from November 17. The exchange stated customers can prepare for the listing by depositing USDC in their budgets quickly.

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

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