Binance, now the most significant crypto exchange by daily trading volume, has announced it is adding new trading monies which will enable users to exchange stablecoins against another. Starting from Tuesday, Jan. 8, the following pairs will be available to traders: PAX/TUSD, USDC/TUSD and USDC/PAX.
In November, the electronic currency trading platform frees its USDT marketplace as a joint stablecoin marketplace, introducing the emblem USDⓈ. The exchange clarified this was performed to encourage more trading pairs using various stablecoins provided as a base set. Afterwards Binance added into the new marketplace pairs together with the stablecoins paxos benchmark (PAX) and USD coin (USDC).
Last year saw the coming of many stablecoins which are currently competing with all the dollar-pegged tether (USDT). These include both tokens which were approved by the New York State Department of Financial Services at September, gemini buck (GUSD), along with paxos benchmark (PAX), additionally backed one sided with U.S. fiat currency.