Binance Gives Stablecoin Trading Pairs Support: USDS/USDT, USDS/PAX, USDS/TUSD, USDS/USDC
According to recent announcements, StableUSD (USDS) will be trading with USDT, USDC, PAX, and TUSD on Binance at 10:00 AM (UTC) on Thursday, February 14th, 2019.
— Binance (@binance) February 13, 2019
USDS is a stablecoin designed to be pegged one-to-one with USD (1 USDS = $1 USD). This ratio is guaranteed whenever you want to purchase or redeem USDS directly with Stably, because Stably holds a one-to-one reserve of USD against all issued USDS in the market.
Stably has been laying the groundwork with the proper preparation, regulation, and transparency to effectively address counterparty risks for USDS. To provide a complete and up-to-date level of transparency on their reserve, Stably provides a view of our reserve balance in real-time, via a live feed from the API of our reserve holder, Prime Trust.
They also provide two pieces of information through this platform. The first is how much USDS the company has in circulation, based on its smart contract. The second is how much USD their regulated trustee has in their reserve.
The mechanics of a stablecoins have a lot of advantages. No long deposit processes from exchanges to bank accounts. The ability to secure funds in a dollar-denominated currency when not trading them, essentially stabilizing them. This is why Binance has been trying to capitalize on the Stablecoin market recently and hope to add more Asian currency pegged stablecoins.