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Tron-Based USD Coin (USDC) is Now listed on Binance Crypto Exchange

Tron-based USD Coin (USDC), a stablecoin pegged to the US Dollar, is now listed on Binance, the world’s leading cryptocurrency exchange, for trading.

Circle, a global internet finance firm and the principal operator of USD Coin (USDC), announced the news in a press release on Friday, December 2021. This listing means that USDC stablecoin available on the Tron blockchain platform is available for trading on Binance.com.

 

The announcement reads:

“Users can now deposit and trade native USDC on TRON (TRC20) on Binance exchange, and readily withdraw USDC on TRON to external TRON-supported wallets. The availability of USDC on TRON on Binance builds upon USDC’s global accessibility, providing a seamless experience for millions of users to access the world’s fastest-growing dollar digital currency.”

What is USD Coin (USDC)?

USD Coin (USDC) is a stablecoin pegged to US Dollar (USD). This means that at any time, the value of 1 USDC is always equal to 1 USD. The other famous stablecoin is Tether (USDT). USDC is managed by a consortium called Centre that consists of payment-focused firm Circle and Coinbase crypto exchange.

USDC is currently available natively as Ethereum ERC-20, Algorand ASA, Solana SPL token, Stellar asset, TRON TRC-20, Hedera token, and Avalanche ERC-20. All these names are prominent blockchains available in the blockchain space.

According to crypto market tracker CoinMarketCap, USDC is currently the second-largest stablecoin and the 7th largest crypto asset by a market cap of more than $42 billion.

Binance is currently the leading cryptocurrency exchange by trading volume. Therefore, it has a large users base. The listing of Tron-based USDC on Binance will enable millions of Binance users to access the fast-growing stablecoin as a native TRC-20 token. In return, these millions of Binance users will help the stablecoin to grow even further.

Gee Chuang, Principal Product Manager at Circle, commented:

“We’re excited to see USDC available across an increasing number of exchanges, making it easier than ever to access dollar digital currency liquidity. As the TRON ecosystem continues to grow, we believe that USDC will become an even more important part of transferring value simply and efficiently on-chain.”

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