crypto

Binance Will List the USDC Stablecoin This Week

Binance Will List the USDC Stablecoin This Week

Binance, now the world’s third largest cryptocurrency exchange by bitcoin trading volume, is adding support for the recently launched stablecoin, USD Coin (USDC), this weekend.


Binance announced Thursday that it will open trading pairs for the regulated, U.S. dollar-pegged token against its own token Binance coin (BNB) and bitcoin (BTC) on Nov. 17, adding that it has already started accepting deposits for USDC in preparation for the beginning of trading.

Cryptocurrency finance firm Circle, which was involved in the token’s development, also confirmed this news on USDC Thursday.

USDC was launched in September by CENTRE consortium as a way to tokenize U.S. dollars and painlessly transfer value on public blockchains.

The support for USDC comes shortly after Wei Zhou, Binance’s CFO, told CBNN in October that the firm is looking to list more stablecoins. The news means Binance will support four stablecoins, with tether (USDT), Paxos Standard (PAX) and TrueUSD (TUSD) already on the books.

Last month, U.S.-based cryptocurrency exchange Coinbase also announced it was adding USDC as its very first stablecoin offering. Coinbase too is one of the founding members of the CENTRE consortium, along with aforementioned Circle.

Other exchanges including South Korea-based Korbit as well as Japan’s Liquid have also recently made USDC available for trading on their platforms, according to a blog post by Circle on Tuesday.

More than fifty exchanges, protocols, platforms, applications and wallets now support the token, Circle said, adding that its circulating supply is currently at over 148 million.

CBNN

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.