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 UNITED STATE dollar that helps with instantaneous loan transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For increased openness, USDC has actually involved a top-ranking bookkeeping firm to launch month-to-month equilibrium attestations of the corresponding USDC and also USD equilibriums held/issued,” Binance claimed in the article.

Binance additionally discussed that it will certainly start trading for USDC/BNB and also USDC/BTC sets from November 17. Presently, USDC is just being coupled with Binance Coin [BNB] and also Bitcoin [BTC] The exchange claimed customers can plan for the listing by transferring USDC in their budgets immediately.

The platform additionally alerted customers about keeping a check on USDC’s rate, which makes feeling due to the current Tether [USDT] ordeal. “USDC is a stablecoin created to be secured one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the cost deviates from this ratio,” the platform claimed.

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

Crypto exchanges OKEx and also Huobi have actually likewise revealed their objective of listing 4 USD stablecoins at one go.
Sharing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Regulated steady coins work as a middle ground where regulators maintain control, yet the token additionally offers even more freedom than traditional fiat for users. Hope more will certainly copy/follow/improve, and for various other fiat money as well.”

Binance additionally pointed out that it will 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 budgets immediately.

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

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