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 system. USDC is a stablecoin pegged to the UNITED STATE buck that facilitates instantaneous money transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For raised openness, USDC has actually engaged a top-level auditing firm to release regular monthly balance attestations of the corresponding USDC and USD equilibriums held/issued,” Binance stated in the article.

Binance also pointed out that it will certainly start trading for USDC/BNB as well as USDC/BTC pairs from November 17. BTC] The exchange stated individuals can prepare for the listing by transferring USDC in their pocketbooks promptly.

The system additionally warned users regarding keeping a check on USDC’s cost, which makes feeling owing to the current Tether [USDT] debacle. “USDC is a stablecoin developed to be pegged one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the rate differs this ratio,” the platform stated.

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

Crypto exchanges OKEx and Huobi have actually also expressed their objective of listing four USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Controlled steady coins serve as a happy medium where regulatory authorities preserve control, but the token also provides far more freedom than traditional fiat for users. Hope much more will copy/follow/improve, and for various other fiat currencies as well.”

Binance likewise discussed 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 depositing USDC in their pocketbooks right away.

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

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