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 detail USDC on its platform. USDC is a stablecoin pegged to the UNITED STATE buck that helps with instant money transfer.
The stablecoin, which was presented by Goldman Sachs-backed Circle, was introduced in September. “For increased openness, USDC has engaged a top-ranking bookkeeping firm to launch monthly equilibrium attestations of the matching USDC and also USD balances held/issued,” Binance stated in the post.

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

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

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

Crypto exchanges OKEx and also Huobi have actually additionally revealed their intent of listing 4 USD stablecoins at one go.
Expressing Binance’s choice for stablecoins, CEO Changpeng Zhao tweeted, “Managed stable coins act as a happy medium where regulators preserve control, but the token additionally provides far more flexibility than typical fiat for individuals. Hope a lot more will copy/follow/improve, and for various other fiat money too.”

Binance likewise discussed that it will begin trading for USDC/BNB and USDC/BTC sets from November 17. The exchange stated users 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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