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Binance Adds USD Coin of Circle Supporting the Stablecoin

Today, the leading cryptocurrency exchange Binance announces the listing of USDC stablecoin on their platform via an official blog post.

The financial services company announced USD Coin back in May 2018 and released by September. Currently, USDC is one amongst emerging cryptocurrencies notionally in a ratio as 1:1 with a comparison to major fiat currency.

Binance recently announces to include USDC into their listing coins. They are open to access the deposit for this particular coin. Moreover, Binance is not the initial giant exchange to list USDC for trading. The U.S biggest exchange Coinbase is also supporting this asset since the end of October. Binance specifies in their blog post saying,

For increased transparency, USDC has engaged a top-ranking auditing firm to release monthly balance attestations of the corresponding USDC and USD balances held/issued.

The exchange also mentions that trading for particular pairs like USDC/BNB and USDC/BTC will start from November 17. There are crypto exchanges who are stepping their efforts to support fiat-backing stablecoins.

Recently, the world’s familiar crypto exchange OKEx and Huobi lists four USDC stablecoins following each other. Binance has always shown their enthusiasm regarding stablecoins.

The CEO at Binance, Changpeng Zhao says that he “hope more” to surface while the exchange adds Paxos asset in September. Moreover, Binance remains the world’s second-leading cryptocurrency exchange with regards to 24-hour trade volumes. Also, they hold around $1.5 billion in trades at the time of press release.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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