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 provide USDC on its platform. USDC is a stablecoin fixed to the UNITED STATE buck that facilitates instant cash transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For raised openness, USDC has engaged a top-ranking bookkeeping company to release month-to-month balance attestations of the equivalent USDC as well as USD balances held/issued,” Binance stated in the article.

Binance additionally pointed out that it will certainly begin trading for USDC/BNB and also USDC/BTC sets from November 17. BTC] The exchange claimed individuals can prepare for the listing by transferring USDC in their pocketbooks right away.

The platform additionally alerted users concerning maintaining an examine USDC’s cost, which makes feeling owing to the current Tether [USDT] fiasco. “USDC is a stablecoin developed to be pegged one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price differs this proportion,” the platform stated.

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

Crypto exchanges OKEx and also Huobi have actually also shared their purpose of noting 4 USD stablecoins at one go.
Expressing Binance’s preference for stablecoins, CEO Changpeng Zhao tweeted, “Controlled secure coins act as a middle ground where regulators keep control, but the token also uses even more flexibility than conventional fiat for customers. Hope a lot more will certainly copy/follow/improve, and also for various other fiat money also.”

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

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

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