Leading cryptocurrency exchange Binance has added the Circle’s stablecoin USD Coin, pegged with USD as a base asset for various new trading pairs in its combines market if stable coin. Binance announced this development through an official blog post on December 14.
The stablecoin was first announced by Goldman Sachs-backed Circle last May. they launched it in September and USD Coin (USDC) is new among the lines of stablecoins pegged 1:1 with a major fiat.
Binance last November rebranded the Tether (USDT) market as the joint USDⓈ market allowing the support of trading pairs with stablecoins as their base.
According to the announcement, Binance has decided to introduce six new trading pairs with the base pair as USDC, EOS (EOS/USDC) and Stellar (XLM/USDC), Ethereum (ETH/USDC), Ripple (XRP/USDC), Binance Coin (BNB/USDC), Bitcoin (BTC/USDC). ALONG WITH Binance will add a USDC pair with Tether.
The announcement also mentions that this development will also delist its former USDC/BNB and USDC/BTC trading pairs launched in November,
Before this another major exchange Coinbase also included USDC on its platform last October.
Following the market trend more and more exchanges are introducing stablecoins to their platforms among them OKEX and Huobi are notable as they have decided to list four USD backed stablecoins.