[ad_1]
Stablecoin was the word for the entire second half of 2018 and now, with the volatility returning to the encrypted markets, their use on stock exchanges has just skyrocketed. To capture this demand and offer more options stablecoin to its user, Binance announced that it would add more trading pairs with TUSD as of December 7, 2018
Binance adds the third pair of stablecoin in less than a month
The demand for stablecoin is increasing and Binance is doing everything to provide the best options available to its customers. In the last month, the main cryptographic exchange has added more stablecoin and its equivalent pairs to meet the growing demand of its customers. In the umpteenth attempt to meet this demand, Binance has announced that it will add trading pairs with TUSD as listing assets in the USD / Tab trading market as of December 7, 2018, 10:00 (UTC). The pairs that will be available for TUSD trading include BNB / TUSD, BTC / TUSD, ETH / TUSD, XRP / TUSD, EOS / TUSD and XLM / TUSD.
The announcement also states that the existing TUSD / BNB, TUSD / BTC, TUSD / ETH trading pairs will be removed and removed from service on 2018/12/08 at 10:00 (UTC). At the moment all existing orders in each order portfolio will be canceled.
This is the third stable pair of coins that Binance is adding to its offer in less than a month.
Binance has added PAX pairs about 10 days back while USDC pairs in mid-November to meet the growing demand demand help their customers counter volatility. PaX pairs available on Binance include BNB / PAX, BTC / PAX, ETH / PAX, XRP / PAX, EOS / PAX and XLM / PAX while USDC pairs available on exchange are USDC / BNB and USDC / BTC
With these new additions, Binance is also reducing dependence on the controversial status of Tether, which has been rather opaque. To allow its users to easily switch from Tether to other Binance stablecoins, a couple of months earlier had listed PAX / USDT
Binance recently renamed its USDT (USDT) market to Stablecoin (USDⓈ). This step was taken to support more exchange pairs with different stablecoin offered as a basic pair and the exchange seems to be on track to reach its stablecoin vision.
Unlike Tether, TrueUSD is a rather transparent stablecoin. It is part of the TrustToken resource tokenisation platform where US dollars are held in bank accounts of multiple trust companies that have signed escrow agreements, rather than in a single-company bank account. The contents of the aforementioned guarantee account are verified by an independent third-party accountant who publishes monthly reports.
With more stablecoin listings, Binance has not only satisfied the growing demand for stablecoin from its customers, but has also reduced Tether's dependency. With these new stablecoin directories, Binance users now have a variety of options to protect their capital from the extreme volatility of encrypted markets.
IS Binance correct in its multiple addition strategy stablecoins? Let us know your opinions on the same
Summary
Item name
Stablecoin Mania continues as Binance Adds more trading pairs with TUSD
Description
Stablecoin was the word for the entire second half of 2018 and now, with the volatility returning to the encrypted markets, their use on stock exchanges has just skyrocketed. To capture this demand and offer more options stablecoin to its user, Binance announced that it would add more trading pairs with TUSD as of December 7, 2018
Author
Nilesh Maurya
Publisher name
Coingape
Publisher logo
