Binance, which removed many USDC parities from its platform last year, seems to have taken a step back on this issue. The exchange announced today that 10 crypto trading pairs will once again be traded in USDC parity starting tomorrow.
Binance exchange appears to have reversed its decision to reduce the presence of USDC on its platform in 2022. The exchange announced today that it will launch USDC trading pairs in 10 cryptocurrencies.
According to the announcement, the following pairs will start trading: ADA/USDC, ARB/USDC, AVAX/USDC, DOT/USDC, INJ/USDC, MATIC/USDC, OP/USDC, ORDI/USDC, SOL/USDC and XRP /USDC Tomorrow 11: It starts at 00.
As you may remember, there was a lot of talk about Binance’s USDC decision in 2022, and the exchange said it was primarily based on BUSD and USDT.
Things Changed When BUSD Was Banned
However, the fact that US regulators declared war on Binance and suspended the circulation of the company’s stablecoin BUSD until 2023 seems to have changed the course of the stock market.
Paxos also halted the issuance of BUSD after the New York Department of Financial Services described it as an “unregistered investment contract sale.” Meanwhile, Binance began phasing out BUSD pairs as of February 2023.
In addition to USDT, the exchange also started supporting Hong Kong-based stablecoins such as FDUSD and TUSD. However, it is noteworthy that the company once again opened to USDC issued by Circle, at a time when prices were rising and Binance was experiencing problems with the USA.
In the statement, it was stated that the announcement was short and no information was given other than the date and time.
