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 certainly list 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 raised openness, USDC has actually involved a top-level auditing firm to launch monthly balance attestations of the equivalent USDC and USD balances held/issued,” Binance stated in the blog post.

Binance also pointed out that it will certainly begin trading for USDC/BNB and USDC/BTC pairs from November 17. BTC] The exchange claimed users can prepare for the listing by transferring USDC in their wallets quickly.

“USDC is a stablecoin made to be secured one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price departs from this ratio,” 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 sustained a stablecoin,” the exchange claimed in its main blog.

Crypto exchanges OKEx and Huobi have actually additionally expressed their objective of listing four USD stablecoins at one go.
Revealing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Regulated stable coins function as a middle ground where regulators preserve control, yet the token likewise offers much more freedom than conventional fiat for individuals. Hope a lot more will certainly copy/follow/improve, and also for various other fiat money also.”

Binance also stated that it will certainly begin trading for USDC/BNB as well as USDC/BTC pairs from November 17. The exchange said customers can prepare for the listing by transferring USDC in their budgets immediately.

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

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