Top Crypto Exchange Binance Adds Circle’s USD Coin in Latest Stablecoin Support Move

Neutral Top Crypto Exchange Binance Adds Circle’s USD Coin in Latest Stablecoin Support Move

Major cryptocurrency exchange Binance announced it would list Circle's USD-pegged stablecoin USD Coin (USDC) in a blog post Nov. 15, with deposits opening immediately.

USDC, which the financial services company announced in May this year and released in September, is one of an increasing number of cryptocurrencies notionally tied 1:1 with a major fiat currency.

Binance is not the first major platform to list USDC, U.S. exchange Coinbase supporting the asset since the end of last month.

"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," Binance adds in its statement today.

The exchange also noted that trading for USDC/BNB and USDC/BTC trading pairs will begin Nov. 17.

Exchanges across the world have stepped up efforts to support fiat-backed stablecoins as more and more are issued, Cointelegraph reporting on how the currently world's largest crypto exchange OKEx as well as major competitor Huobi recently opted to list four USD stablecoins at once.

Binance has not been shy about its enthusiasm for stablecoins, CEO Changpeng Zhao saying he "hoped more" would surface when the exchange added Paxos' USD-pegged asset in September.

"Regulated stable coins [sic] serve as a middle ground where regulators maintain control, but the token also offers far more freedom than traditional fiat for users," he wrote on Twitter at the time, adding:

"Hope more will copy/follow/improve, and for other fiat currencies too."

Binance is currently the world's second largest cryptocurrency exchange by 24-hour trade volumes, seeing over $1.5 billion in trades on the day to press time.

11/15/2018 / 08:55:00 Source: cointelegraph

Altcoin | Binance | Circle | Stablecoin | | Exchange|Altcoin
BTC
1 BTC=$3,504.07
XRP
1 XRP=$0.3096
ETH
1 ETH=$91.50
XUC
1 XUC=$2.09
EOS
1 EOS=$2.05
BCH
1 BCH=$97.73

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Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.