The well-known cryptocurrency exchange Binance has announced that since November 17 a stable coin (Cine (USDC)) will be available on the platform.
Official statement of the exchange:
Binance will open trading in pairs USDC / BNB and USDC / BTC 11/17/2018 at 03:00 (UTC). Users can now start making USDC deposits in preparation for trading.
The USDC coin was created when you run Circle in late September. But despite a very short period of existence, USDC is now the 49th largest cryptocurrency in accordance with the CoinMarketCap rating.
Currently, USDC is most actively trading on the Poloniex exchange, which was acquired by Circle in February 2018.
A listing on Binance will help promote USDC trading volumes and market capitalization. It is worth noting that a stable coin is designed to maintain a one-to-one relationship with the US dollar, which means that traders should be careful when the exchange rate differs too much from this ratio.
In addition, to increase transparency, USDC attracted a well-known auditing firm to carry out monthly appraisals of the relevant USDC and USD balances.
And what do you think about this? Leave your comments below!
