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Binance lists USDC
Binance, a premium encryption platform, has accepted the list of USDC, a stablecoin pegged to the US dollar, as a quote currency for its traded assets. Announced on December 13th, trading will start on Friday from 22:00 onwards. Trading pairs on this cryptocurrency exchange include BNB / USDC, XRP / USDC, ETH / USDC, EOS / USDC, XLM / USDC and BTC / USDC. Binance has played an active role through portfolio, apps, protocols and exchanges to promote the adoption of this stablecoin supported by Coinbase-Circle.
USDC, which was introduced by Circle Goldman Sachs, facilitates instant money transfer. Circle and Coinbase have jointly founded the CENTER Consortium for the stablecoin release. This is the first time that Coinbase, the US-based digital resource exchange, has supported the launch of a stablecoin, which is 100% pegged to US dollars. In this joint venture, both companies place emphasis on a compliance approach, maintaining a safety record.
The market value
The underlying blockchain technology to support the digital dollar improves the speed of the transaction, its use in dApps, simplifies its program and favors local storage instead of the traditional bank accounts required for legal currencies. On the Ethereum blockchain, a US dollar and a US dollar hold the ratio of 1: 1. At the time of the press, passing from the Coinmarketcap data, USDC is in 25th place in terms of market capitalization with a total market value about $ 196.60.
With bears focusing on the market in 2018, investors increasingly incorporated stablecoins into their portfolio. To tie [USDT] The best stablecoin, which currently occupies the 5th place on the global coin scale, entered the field this year, with critics claiming that the currency is not effectively supported 1 per 1 by the US dollar. Given this apprehension with the top-stablecoin, many other similar players have entered the fray of the stablecoin. Among these, one of these is USD Coin [USDC] together with the 31st classified Standard Paxos [PAX], the twin of the Winklevoss twins [GUSD] and True USD (TUSD).
See also:
Binance launches a new product to combat misleading information on blockchain
Binance & ShapeShift CEO on the disappearance of encryption crips
Image via Shutterstock
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