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 note USDC on its platform. USDC is a stablecoin pegged to the U.S. buck that promotes instant money transfer.
The stablecoin, which was introduced by Goldman Sachs-backed Circle, was launched in September. “For raised transparency, USDC has actually involved a top-level bookkeeping firm to release regular monthly balance attestations of the equivalent USDC and also USD balances held/issued,” Binance claimed in the article.

Binance likewise discussed that it will certainly begin trading for USDC/BNB and USDC/BTC pairs from November 17. BTC] The exchange said individuals can prepare for the listing by transferring USDC in their wallets immediately.

“USDC is a stablecoin designed to be secured one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price departs from this proportion,” the system claimed.

Before Binance’s listing, U.S.-based cryptocurrency exchange Coinbase had included 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 and also Huobi have additionally shared their intent of noting four USD stablecoins at one go.
Sharing Binance’s preference for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Controlled stable coins act as a middle ground where regulators maintain control, yet the token additionally offers much more flexibility than standard fiat for individuals. Hope more will copy/follow/improve, as well as for various other fiat currencies as well.”

Binance also discussed that it will start trading for USDC/BNB and USDC/BTC pairs from November 17. The exchange claimed individuals can prepare for the listing by depositing USDC in their pocketbooks instantly.

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

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