Binance to launch support for the stablecoin USD Coin [USDC]
The renowned and world’s largest cryptocurrency and digital asset token crypto exchange trading platform, Binance is making it to headlines time and again. The crypto exchange is not hiding or lagging behind in supporting stablecoins. Binance is going the support the recently launched stablecoin USD Coin [USDC]. Furthermore, the crypto exchange is going to start the trading action with the stablecoin from November 17, 2018.
Binance already supports some renowned United States Dollar pegged stablecoins such as Tether and TrueUSD. Just two months ago on September 21, 2018, Binance also launched support for the Paxos Standard Token (PAX) stablecoin. United States Dollar Coin [USDC], the United States Dollar pegged stablecoin was the first stablecoin to be supported by the crypto exchange Coinbase.
More about Binance listing the USDC stablecoin
Binance currently stands the world’s third-largest crypto exchange trading platform in Bitcoin [BTC] trading. The crypto exchange made the announcement of listing the stablecoin on their official Twitter handle, and their official blog. The crypto exchange is starting deposit action on the stablecoin.
Moreover, they stated on their blog. “Fellow Binancians, Binance will open trading for USDC/BNB and USDC/BTC trading pairs at 2018/11/17 03:00 AM (UTC). Users can now start depositing USDC in preparation for trading.”
It will list trading pairs with its own native cryptocurrency and digital asset token Binance Coin [BNB] and Bitcoin [BTC]. Furthermore, it will start all the trading actions with the stablecoin from November 17, 2018. The stablecoin is United States Dollar pegged and is supported in development by Circle.
The crypto exchange also warned its users of the fluctuation in the cryptocurrency. “Risk warning: Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your investment losses.”
The stablecoin is currently trading at $1.02 at the time of writing this and stands at $13 million market cap.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.