Binance Adds Support for Circle’s USDC Stablecoin

News and Analysis

Leading cryptocurrency exchange Binance has announced it will list USD Coin (USDC), the stablecoin created by Circle and Coinbase via the CENTRE Consortium.

As per the announcement, deposits are already open and trading for USDC/BTC and USDC/BNB pairs will commence on Friday, November 16 at 03:00 AM UTC.

USDC was launched last month and has seen widespread adoption across the crypto ecosystem, being available globally on exchanges representing tens of billions of dollars in trading volume.

On a rare occasion, Coinbase took to Twitter to spread the news of a rival exchange adding the asset.

According to CENTRE Consortium, the current circulating supply of USDC has exceeded $148 million and over “50 exchanges, protocols, platforms, applications and wallets” now support the stablecoin. Those exchanges include OKEx, currently the number one crypto trading platform globally in terms of volume, which added support for USDC exactly a month ago.

“Circle and Coinbase are confident that interest in USDC will continue to grow, bolstered by a desire for a more transparent and compliant USD token from market participants,’ CENTRE Consortium blog post reads.

With USDC coming to Binance, the number of stablecoins the exchange is now supporting has grown to four. Aside from USDC, those include Tether USDT, TrueUSD (TUSD) and Paxos Standard Token (PAX).

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