Binance and Stablecoins “Pair”

Binance, one of the largest crypto trading platforms and the top one by volume announce the creation of a new market. The focus of this new market, although more details are to be revealed in a later time will be stablecoins and at the center of it USDT will be placed. Binance will use the Unicode symbol Ⓢ to signify the stablecoin symbols for this market (as an example USDT will be named in the market as USDⓈ) and the main point of it will to offer more trading pairs with various stablecoins acting as base pair.

While there is a variety of stablecoins right now, the market will always require more to be developed as it expands. Reasons investors and traders are attracted to them include shorter deposits from bank account to exchange and vice versa as well as the ability to secure funds when not trading from volatility. What is expected is that more stablecoins will appear based in different fiat like the Euro and the Yen, or based on different functionality like the MakerDAO which stabilizes its value through algorithms instead of being backed and collateralized.

As it stands Binance has laid the ground work and seems prepared for the future getting ready to just add more tokens when the stable-market is fully developed.

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