Binance, one of the world’s largest crypto exchanges, on Thursday announced it was adding USD Coin (USDC) as a quote currency for some of its most actively traded assets. In addition, Binance is also listing a USDC/USDT pair.
The new USDC trading pairs are BTC/USDC, ETH/USDC, BNB/USDC, XLM/USDC, EOS/USDC and XRP/USDC.
This represents a significant milestone for an asset-backed stablecoin that was introduced just a few months ago. Trading for these pairs will begin 10 pm EST Friday.
Binance is just one of the more than 70 exchanges, protocols, platforms, applications, and wallets that have played a leading role in driving adoption of USDC. At the time of writing, USDC is a top 30 crypto asset by market cap, which now surpasses $200 million. You can see more USDC supporters here.
On a related note, the Circle USDC service now supports bank transfers in more than 75 countries, providing customers in those geographies with a transparent and reliable way to tokenize fiat currency as well as redeem USDC for US Dollars. To learn more about the supported countries please check this help center article.
The CENTRE Consortium, a joint venture co-founded by Circle and Coinbase, introduced USDC to establish a standard for fiat on the internet and provides a governance framework and network for the global, mainstream adoption of asset-backed stablecoins.