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 provide USDC on its platform. USDC is a stablecoin secured to the UNITED STATE dollar that promotes immediate money transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For increased transparency, USDC has engaged a top-ranking bookkeeping company to launch month-to-month equilibrium attestations of the equivalent USDC and USD balances held/issued,” Binance claimed in the post.

Binance additionally stated that it will start trading for USDC/BNB and also USDC/BTC pairs from November 17. Currently, USDC is only being coupled with Binance Coin [BNB] as well as Bitcoin [BTC] The exchange said customers can plan for the listing by depositing USDC in their purses right away.

“USDC is a stablecoin developed to be pegged one-to-one with USD (1 USDC = $1 USD). Please be mindful if/when the rate departs from this ratio,” the platform 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 stated in its main blog site.

Crypto exchanges OKEx and Huobi have actually additionally revealed their intention of listing 4 USD stablecoins at one go.
Sharing Binance’s choice for stablecoins, CEO Changpeng Zhao tweeted, “Regulated secure coins act as a middle ground where regulatory authorities preserve control, but the token also uses far more freedom than traditional fiat for individuals. Hope much more will certainly copy/follow/improve, as well as for various other fiat money too.”

Binance likewise mentioned that it will start trading for USDC/BNB and USDC/BTC sets from November 17. The exchange said users can prepare for the listing by transferring USDC in their wallets quickly.

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

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