Binance Expands Beyond Tether (USDT) With a Dedicated Stablecoin Market


Binance, the world’s most popular crypto exchange, has announced that it will be renaming and expanding its Tether (USDT) market to USDⓈ, which will now include a number of popular stablecoins with an expanded assortment of trading pairs.

While the name might suggest another token, Binance notes in the announcement that USDⓈ does not represent a new stablecoin. Essentially, the new market is a dedicated stablecoin tab on the Binance platform that will include an array of dollar-pegged trading pairs — although the majority are still USDT-base pairs.

Please note that USDⓈ is not a new stablecoin: it is the symbol of Binance’s new stablecoin market. We will make a further announcement soon on the exact pairs to be initially moved or added to this market.

This news comes just 10 days after Binance listed USD Coin (USDC), a dollar-pegged stablecoin created by Coinbase and Circle, the owner of Poloniex, via the CENTRE Consortium.

Binance currently supports four different dollar-pegged stablecoins, including USDT, USDC, TrueUSD (TUSD) and Paxos Standard Token (PAX).

More: Binance Updates USDT Market to Combined Stablecoin Market (USDⓈ)

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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