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 announced that it will note USDC on its platform. USDC is a stablecoin secured to the U.S. dollar that helps with instant loan transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For enhanced transparency, USDC has engaged a top-level auditing company to release month-to-month equilibrium attestations of the equivalent USDC and USD balances held/issued,” Binance said in the article.

Binance also mentioned that it will certainly begin trading for USDC/BNB and USDC/BTC pairs from November 17. Presently, USDC is just being coupled with Binance Coin [BNB] as well as Bitcoin [BTC] The exchange stated users can plan for the listing by depositing USDC in their wallets immediately.

The system likewise alerted individuals regarding maintaining a look at USDC’s rate, that makes feeling owing to the current Tether [USDT] ordeal. “USDC is a stablecoin made to be fixed one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price differs this ratio,” the platform said.

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

Crypto exchanges OKEx and Huobi have actually likewise revealed their purpose of noting four USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Regulated stable coins function as a middle ground where regulatory authorities keep control, yet the token likewise supplies much more liberty than traditional fiat for users. Hope more will certainly copy/follow/improve, and also for other fiat money too.”

Binance additionally stated that it will begin trading for USDC/BNB as well as USDC/BTC pairs from November 17. The exchange stated customers can prepare for the listing by transferring USDC in their budgets promptly.

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

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