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 revealed that it will list USDC on its platform. USDC is a stablecoin fixed to the U.S. buck that facilitates immediate loan transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For increased openness, USDC has engaged a top-ranking bookkeeping company to launch monthly balance attestations of the equivalent USDC and USD equilibriums held/issued,” Binance stated in the article.

Binance likewise mentioned that it will certainly begin trading for USDC/BNB and also USDC/BTC sets from November 17. Currently, USDC is just being paired with Binance Coin [BNB] and Bitcoin [BTC] The exchange stated individuals can get ready for the listing by depositing USDC in their wallets immediately.

The system likewise advised individuals concerning maintaining a check on USDC’s cost, which makes feeling because of the current Tether [USDT] fiasco. “USDC is a stablecoin made to be pegged one-to-one with USD (1 USDC = $1 USD). Please beware if/when the price deviates from this proportion,” the system stated.

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

Crypto exchanges OKEx as well as Huobi have actually additionally revealed their intent of listing 4 USD stablecoins at one go.
Revealing Binance’s preference for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Regulated secure coins work as a happy medium where regulatory authorities preserve control, yet the token also uses far more flexibility than typical fiat for users. Hope much more will copy/follow/improve, as well as for other fiat currencies too.”

Binance likewise pointed out that it will certainly start trading for USDC/BNB as well as USDC/BTC sets from November 17. The exchange claimed individuals can prepare for the listing by transferring USDC in their purses immediately.

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

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