Binance enlists the USDC stablecoin backed by Goldman Sachs

According to the announcement, the cryptoexchange pointed that USDC/BTC and USDC/BNB tokens will begin trading today, on Nov 17. However, the deposits of the dollar-pegged stablecoin have already begun.

USD Coin, which is an ERC20-based token on the Ethereum blockchain, was introduced in October by the Coinbase cryptoexchange in cooperation with Circle company, which is supported by Goldman Sachs. Subsequent to the launch of the token, it instantly became accessible for trading via the Coinbase network.

Apart from the intention to displace the monopoly of the infamous Tether stablecoin, Coinbase stated back then that USD Coin would facilitate an enhanced level of transparency all over the world. Currently, the USDC stablecoin is available for trading on various cryptoexchanges all over the world.

Among the cryptoexchanges that declared enlisting the dollar-pegged currency within the past week are Japanese Liquid and Korean Korbit. Previously in November, BitMart Exchange, which has its headquarters located on the Cayman Islands, has also revealed the news about listing the USD Coin.

Previous month also saw the stablecoin becoming listed on numerous major cryptoexchanges, as the currency is competing for the place under the sun with other stablecoin contenders such as GUSD, TUSD, and PAX, all of which came about as a response to disrupt the monopoly of shady Tether currency.