Binance is Seeking to Support USDC Trading – The most popular digital currency exchange across the globe, Binance, is seeking to add fiat-collateralized stablecoin USD coin (USDC) to its trading platform on November 17th, 2018. It will be combined with Binance’s own token, BNB.
Binance’s token will be backed by the USD fiat currency in the ratio of 1:1. This was released on Binance’s official blog site on Tuesday.
“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 blog post.
Binance will list its third stablecoin, USDC, by supporting the fiat currency. The first two are Tether (USDT) and TrueUSD (TUSD).
The buzz surrounding stablecoins has grown exponentially this year. Regularly attached to fiat monetary standards, for example, USD or the euro, stable monetary standards are intended to decrease the impacts of instability frequently observed in standard crypto resources like bitcoin and ether.
Binance is Seeking to Support USDC Trading – Binance is the world’s biggest computerized money trading organization, bragging a day by day exchanging volume generally of around $500 million more than Coinbase. Which, only a month ago was among the primary cryptographic money exchanging podiums to indicate bolster for USD Coin. The coin is a result of Coinbase’s and Circle Internet Ltd’s. joint endeavors. Hence, it was produced as a piece of the Center blockchain structure.
In September 2018, USDC has started trading on the circle -owned polonies exchange. The CEO and founder of Binance, Changpeng Zhao, talked about the company’s success, as well as about upcoming services which will be more than just exchange.
“We want to be the infrastructure services provider for the blockchain space, so we have several different initiatives. Most of them are still quite small, including the exchange. I think if you compare us to traditional [market] exchanges, we are still quite small … but right now, our ecosystem is made up of the exchange, a wallet, labs, charity, info, an academy and more. We hope some of them will become the infrastructure for the industry.”