Since the fall out of Tether (USDT) as the dominant stablecoin, several crypto exchanges have been doing all they can to reduce the monopoly the stabelcoin has on their platform.
In light of this, Binance launched a combined Stablecoin Market (USDⓈ). The stablecoin market is a combination of more than 5 top ranking stablecoins in the market right now. Binance which recently listed Paxos Standard Token (PAX) to its stablecoin combine market has also announced the addition of circle’s USDC.
Binance which recently listed Paxos Standard Token (PAX) to its stablecoin combine market has also announced the addition of circle’s USDC.
Binance adds USDC
Binance made it known in a recent announcement that the USDC stablecoin will be added to its combined stablecoin as a base pair to the following tokens: ETH, BNB, XRP, EOS, and XLM
The following crypto pairs will be added to the platform:
*.BNB/USDC
*.BTC/USDC
*.ETH/USDC
*.XRP/USDC
*.EOS/USDC
*.XLM/USDC
According to the announcement, Binance will only be adding the pairs to its platform in preparation for trading to commence tomorrow 15th of December,03:00 am (UTC). So even though the pairs are listed on the platform right now, they are not active and can’t be traded till the specified time period.
Binance also made sure to make it known that all existing USDC pairs with BNB and BTC as a base will be removed and delisted by the 16th of December, 03:00 am (UTC). It was also stated that: all existing orders of these pairs will be cancelled at this time.
About the USDC stablecoin
The USDC stablecoin is a product of CENTRE Consortium: a joint venture co-founded by Circle and Coinbase. The coin was introduced recently and it has since then gained traction as a major contender for the top position. The USDC token is an ERC20 token.
According to the announcement, “the main goal of the stable coin was to establish a standard for fiat on the internet and provide a governance framework and network to foster global, mainstream adoption of asset-backed stablecoins.”
