Binance constantly keeps their investors involved in the changes that they bring to the platform constantly through official announcements on their website. Most frequently, at least lately, has been new listings and coin pairings. On an announcement on November 14th, they decided to let their users know about the newest listing – USD Coin (USDC).
— Binance (@binance) November 15, 2018
According to the post, trading for USDC will begin on November 17th. Presently, the token is only being paired with BNB and BTC, though updates to these limits happen all of the time. Binance also included that users can prepare for the listing by depositing USDC in their wallets now.
The announcement explains,
“USDC is a stablecoin designed to be pegged one-to-one with USD (1 USDC = $1 USD). Please be cautious if/when the price deviates from this ratio.”
Considering how necessary it is for a stablecoin to remain at a 1:1 value with the local currency, Binance added that there will be a “top-ranking auditing firm” available to maintain the transparency of the coin. This firm is scheduled to release a testimony each month, offering the USDC and USD balances that are held/issued.
To caution users, the company issued a “risk warning” in the announcement, which almost seems like a courtesy for anyone that deals in cryptocurrency, even without Binance.
The warning simply states,
“Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Binance will make best efforts to choose high quality coins but will not be responsible for your investment losses.”