|Nov 27, 2018 01:24 PM||By: Ben Noble | 1894 Views|
Binance, before recognized for its Tether (USDT) market is now renamed to receive more stablecoins and trading pairs between them, as described in an advisory by Binance November 26.
Binance repeats that their new USDⓈ is not a new stable coin itself, but the number for their new stable coin market. An item on which stable coin trading pairs are working to be accepted on the market will be made at a later date.
This report follows the news earlier this month that Binance is listing the blockchain payment company Circle, and their USD based stable coin (USDC). This token was driven through Coinbase and Circle in October and is 100% collateralized with U.S. dollars.
The same month, Tether (USDT) caught discussion after its value fell lower than the U.S. dollar, at one point reaching $0.91. There were many rumors and thoughts on why the cost had fallen, including one story including the Bitfinex CEO whom also is the CEO of Tether facing some insolvency issues. Still, at the time of writing this article USDT is trading around $0.980 and is under and USDC is trading about $1.03 and is up.