Cryptocurrency News

Binance Lists Circle’s Stablecoin USDC, Deposits Opening Shortly

Binance Lists Circle’s Stablecoin USDC, Deposits Opening Shortly

Binance – the major crypto exchange announced its listing of Circle’s USDC or USD pegged stabelcoin in a blog post dated 15th November. The deposits for the same would be opening shortly.

USDC, the announcement for which came from the financial services organization this year in May and released in September, is probably one of the most rapidly growing cryptocurrencies.

Binance is in no ways the very first significant podium to list USDC. The asset is being supported by Coinbase – the US exchange since last month.

In one of its statements published today, Binance adds, “USDC has taken the services of a leading auditing company for releasing balance attestations on monthly basis of the corresponding USD and USDC balances issued or held. This will bring great transparency.”

The agency has also put down that trading for USDC/BTC, and USDC/BNB trading pairs will start from 17th November.

Exchanges are making efforts throughout the world towards supporting fiat-backed stablecoins as more and more of them are being issued.

According to Binance CEO, Changepeng Zhao, Binance has never shied out on its interest for stablecoins. The CEO always adds to his statements saying he “hoped more” and this even happened when Binance added Paxos’s USD-pegged coin in September this year. This move on the part of the exchange was highly appreciated.

He tweeted, “Regulated stablecoins work as middle grounds for helping regulators maintain complete control. However, the token also provides more freedom in comparison to traditional fiat for the users.” He further added. “Hope more will improve, follow and copy and this also goes for the other fiat currencies.”

Currently, Binance is the second largest cryptocurrency exchange in the world with 24/7 trade volumes. It is making more than $ 1.5 billion in business on the day to press time.

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