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 certainly provide USDC on its system. USDC is a stablecoin fixed to the UNITED STATE dollar that facilitates instantaneous money transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For enhanced openness, USDC has actually engaged a top-ranking auditing company to launch regular monthly equilibrium attestations of the equivalent USDC as well as USD balances held/issued,” Binance claimed in the article.

Binance also discussed that it will start trading for USDC/BNB and also USDC/BTC sets from November 17. BTC] The exchange claimed customers can prepare for the listing by depositing USDC in their purses right away.

The platform also warned users about keeping a look at USDC’s rate, that makes feeling owing to the recent Tether [USDT] ordeal. “USDC is a stablecoin created to be pegged one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price differs this proportion,” the platform said.

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 supported a stablecoin,” the exchange said in its official blog site.

Crypto exchanges OKEx and also Huobi have actually likewise expressed their intention of noting four USD stablecoins at one go.
Revealing Binance’s choice for stablecoins, Chief Executive Officer Changpeng Zhao tweeted, “Managed stable coins act as a middle ground where regulators preserve control, however the token additionally uses much more flexibility than conventional fiat for individuals. Hope extra will copy/follow/improve, and for various other fiat currencies as well.”

Binance also discussed 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 purses immediately.

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

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