The most popular cryptocurrency exchange in the world, Binance, has announced that it will list USD Coin (USDC), a dollar-pegged stablecoin created by Coinbase and Circle, through the CENTRE Consortium.
Coinbase’s official Twitter account reads: “Binance is listing USDC–the stablecoin co-created by @circlepay and Coinbase via @centre_io. We co-founded the CENTRE Consortium with the goal of establishing a standard for fiat on the internet, and we’re thrilled to see adoption growing around the world.”
The announcement revealed that, Binance has already opened deposits for USDC and today, 16th November at 10:00 PM EST, trading for USDC/BNB and USDC/BTC pairs will commence.
Circle made it clear that, USDC was created making use of the ERC-20 standard and it carries out its operations within the regulated framework of U.S. money transmission laws, and is “reinforced by established banking partners and auditors.” In terms of trading volume, USDC has seen tens of billions of dollars since its launch in September, and the circulation supply is now $148 million with over 50 exchanges supporting trading.
With this new listing of USDC, Binance now supports three different dollar-pegged stablecoins, which includes Paxos Standard Token (PAX) and Tether (USDT).
