Goldman Sachs-Backed Poloniex Crypto Exchange Introduces 6 New USD Coin (USDC) Markets


The popular cryptocurrency exchange Poloniex has taken the decision to add six new trading pairs linked to the USD Coin (USDC). This information was released by the company in a blog post on November 16.

Poloniex, one of the largest and most important virtual currency exchanges in terms of trading volume announced that it has introduced six new markets for the USD Coin. The decision was taken as part of their commitment to innovate and offer customers new ways to trade virtual currencies.

The new trading pairs added to the exchange are XRP/USDC, XMR/USDC, STR/USDC, DOGE/USDC, LTC/USDC, and ZEC/USDC. Interested users are now able to trade these pairs since Nov. 16.

The USD Coin is a stablecoin that was introduced back in September by Circle, the owner of the cryptocurrency exchange Poloniex. Poloniex was acquired by Circle at the beginning of this year. The USD Coin was created by the company in order to improve and enhance the virtual currency market.

With it, it is possible to move funds anywhere in the world in minutes, in a cheap and secure way. The token provides stability to the cryptocurrency market and opens new possibilities for investors to hedge risks and trade.

In the blog post, Poloniex explains that they became the first cryptocurrency exchange to offer customers the possibility to trade two different tokens linked to Bitcoin Cash (BCH): Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC).

Moreover, the platform has also introduced the native tokens of the Bancor network (BNT) and the virtual reality platform Decentraland (MANA). Furthermore, the exchange has launched a new mobile application for users on iOS and Android to trade with their smartphones.

At the time of writing, Poloniex is the 38th largest cryptocurrency exchange in terms of trading volume ($42.58 million dollars in the last 24 hours). The most important trading pairs at the exchange are BCHSV/BTC, BCHABC/BTC and XRP/BTC, accounting for 50% of the total trading volume in the platform.

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