Less than a week ago, the team at Binance announced that it was launching a Combined Stablecoin Market (USDⓈ) that would add more stablecoins in addition to Tether (USDT). The move was considered by many, as catering for institutional clients who would prefer multiple stablecoins rather than just one.
Binance already has the following stablecoins.
- Paxos Standard Token (PAX) – listed on the 21st of September
- TrueUSD (TUSD) – listed on the 16th of May
- USD Coin (USDC) – listed on the 15th of November
PAX First To be Added To the Stablecoin Market
Soon after the aforementioned announcement (and on the 29th of November, Paxos Standard Token (PAX) was added onto the stabelcoin market to be a base currency paired with BTC, BNB, ETH, XRP, EOS and XLM.
True USD (TUSD) Added Onto the Stablecoin Market
Earlier today, Binance announced that it was also adding True USD (TUSD) to the stablecoin market. TUSD will be paired as follows:
Technical Delay for BTC, ETH and BNB Pairs
The trading pairs for TUSD had been scheduled to go live tomorrow, December 7th at 10am UTC. However, the team have delayed the listings of BTC, ETH and BNB pairs due to technical reasons. They have since updated the crypto trading community as follows.
Due to technical reasons, we will delay the listing of BNB/TUSD, BTC/TUSD, ETH/TUSD trading pairs to a later date. As such, we will keep the TUSD/BNB, TUSD/BTC, TUSD/ETH trading pairs listed until this date.
This means that only TUSD pairs with XRP, EOS and XLM will be listed tomorrow.
The CEO of Binance, Changpeng Zhao, took to twitter to apologize about the delay. He explained there was a bug that needed to be fixed. His tweet can be found below.
USD Coin (USDC) Likely To Be Next
With two out of three of the stablecoins listed on the new market, it is only natural to assume that it is only a matter of time before USDC is added with similar pairs on Binance.
What are your thoughts on Binance adding PAX and TUSD to the stablecoin market? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.