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 revealed that it will detail USDC on its platform. USDC is a stablecoin secured to the UNITED STATE buck that helps with immediate cash transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For boosted transparency, USDC has actually engaged a top-ranking auditing company to launch monthly equilibrium attestations of the matching USDC as well as USD balances held/issued,” Binance claimed in the blog post.

Binance likewise pointed out that it will certainly begin trading for USDC/BNB and USDC/BTC sets from November 17. Currently, USDC is just being paired with Binance Coin [BNB] as well as Bitcoin [BTC] The exchange said customers can plan for the listing by transferring USDC in their wallets quickly.

The platform additionally cautioned individuals regarding maintaining a look at USDC’s rate, that makes sense because of the recent 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 cost deviates from this proportion,” the platform stated.

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 said in its main blog site.

Crypto exchanges OKEx as well as Huobi have actually also expressed their intent of listing 4 USD stablecoins at one go.
Revealing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Controlled secure coins function as a middle ground where regulatory authorities preserve control, but the token also uses far more flexibility than traditional fiat for users. Hope a lot more will certainly copy/follow/improve, and also for other fiat money too.”

Binance additionally discussed that it will certainly begin trading for USDC/BNB as well as USDC/BTC sets from November 17. The exchange stated customers can prepare for the listing by depositing USDC in their pocketbooks immediately.

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

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