Binance has announced that it will list USD Coin (USDC), the stable coin pegged to the US dollar issued by Circle and Coinbase.
Binance will open trading for the USDC/BNB (Binance Coin) and USDC/BTC (Bitcoin) trading pairs on November 17th. However, it is already possible to deposit USDC on the integrated wallet within the platform to prepare for trading.
The exchange’s announcement also specifies that the USDC exchange rate is at par with that of the US dollar (USD), so 1 USDC should be worth 1 USD, but users are advised to be cautious if the price deviates from this ratio.
USDC has commissioned an audit firm to issue monthly attestations that the USDC balances correspond to the USD held by the issuing firm.
Binance, in the section of the website dedicated to information, has also published a specific page dedicated to this new stable coin, on which you can see the real trend of the market exchange rate with the US dollar thanks to a graph updated in real time.
USDC has been launched a few months ago, but it is already spreading in the crypto sector, so much so that the circulating supply to date is already over 140 million dollars on over 50 exchanges, platforms, applications or wallets.
You can also convert US dollars to USDC, or redeem the same USDC in US dollars, via Circle or Coinbase.