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 detail USDC on its platform. USDC is a stablecoin fixed to the UNITED STATE buck that helps with immediate loan transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For increased openness, USDC has involved a top-ranking auditing company to release month-to-month balance attestations of the corresponding USDC and USD equilibriums held/issued,” Binance said in the post.

Binance additionally mentioned that it will start trading for USDC/BNB and USDC/BTC pairs from November 17. Presently, USDC is only being paired with Binance Coin [BNB] as well as Bitcoin [BTC] The exchange said customers can prepare for the listing by depositing USDC in their wallets instantly.

The system likewise cautioned customers concerning maintaining a check on USDC’s rate, that makes sense owing to the recent Tether [USDT] fiasco. “USDC is a stablecoin developed to be fixed one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the cost deviates from this ratio,” the system said.

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

Crypto exchanges OKEx and also Huobi have actually additionally shared their purpose of providing 4 USD stablecoins at one go.
Revealing Binance’s choice for stablecoins, CEO Changpeng Zhao tweeted, “Controlled secure coins act as a middle ground where regulators preserve control, however the token also uses far more freedom than traditional fiat for customers. Hope extra will certainly copy/follow/improve, as well as for various other fiat money also.”

Binance additionally mentioned that it will certainly begin trading for USDC/BNB and also USDC/BTC pairs from November 17. The exchange stated individuals can prepare for the listing by depositing USDC in their wallets instantly.

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

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