Binance Combined Stablecoin Market: USD Coin (USDC) Gets Added To The Binance Combined Stablecoin Market – USD Coin News TodayAfter renaming its Tether Market as combined Stablecoin Market, Binance has decided to increase its portfolio by adding new stablecoins. Keep in mind that Binance decided to rename the Tether Market so as to support more trading pairs that have different stablecoins as base. However, Binance said that USDⓈ, is not a stablecoin. It is the symbol of the stablecoin market of the exchange. After the name was changed, the exchange added pax and TUSD to its market giving traders many options.
USD Coin (USDC) Joins The Market
This morning, Binance announced that it has added the USD Coin to its market. With the USDC available on Binance, the USDⓈ is complete. The USDC will be paired with USD, BNB, ETH, EOS, XRP, and XLM. The pairs are currently visible in the exchange but will not be active until the 15th. On the 16th, the already active pairs with BTC and BNB will be delisted and existing orders will be canceled. Traders are encouraged to complete their orders before this time.
About USD Coin (USDC)
The USD Coin was created and introduced to the industry by CENTRE Consortium. Centre Consortium is a joint venture that is co-founded by Coinbase and Circle. The coin was meant to establish a standard for fiat on the internet providing governance in a bid to foster mainstream adoption for USD backed stablecoins on a global scale.
At the time of writing, it was trading at $1.02. This shows that it is up by 0.82% against the USD. Against BTC, it is up by 4.40% and against ETH, it is up by 5.08%
Binance is the largest cryptocurrency exchange in the world per market capitalization. This is according to CoinMarketCap. By expanding its stablecoin market, the company is giving investors an opportunity to use different options especially when they are not interested in buying Tether (USDT).