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.

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 is a venture-capital backed startup that is on a mission to connect wealth from the real world to the blockchain economy and help bring stability to the volatile cryptocurrency 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.

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Sritanshu Sinha
Sritanshu Sinha
Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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