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 announced that it will list USDC on its system. USDC is a stablecoin fixed to the U.S. dollar that promotes instantaneous cash transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was released in September. “For raised transparency, USDC has actually involved a top-level bookkeeping firm to release month-to-month balance attestations of the corresponding USDC and also USD balances held/issued,” Binance stated in the blog post.

Binance likewise discussed that it will begin trading for USDC/BNB as well as USDC/BTC sets from November 17. Currently, USDC is only being paired with Binance Coin [BNB] and Bitcoin [BTC] The exchange said users can prepare for the listing by transferring USDC in their pocketbooks quickly.

The platform also warned customers regarding maintaining an examine USDC’s rate, which makes feeling due to the recent Tether [USDT] fiasco. “USDC is a stablecoin designed to be secured 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 actually added USDC to its platform. “This is the very first time Coinbase has actually sustained a stablecoin,” the exchange stated in its official blog.

Crypto exchanges OKEx and Huobi have likewise shared their objective of detailing 4 USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Managed secure coins act as a middle ground where regulators preserve control, however the token additionally uses even more liberty than standard fiat for individuals. Hope more will certainly copy/follow/improve, and for various other fiat money as well.”

Binance additionally pointed out that it will certainly start trading for USDC/BNB and USDC/BTC pairs from November 17. The exchange said customers can prepare for the listing by depositing USDC in their budgets instantly.

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

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