Cryptocurrencies

Binance adds four additional stablecoin-to-stablecoin trading pairs

Binance has added trading support for four new stablecoin-only pairs, providing markets for USDS/USDT, USDS/PAX, USDS/TUSD, and USDS/USDC.

Currently, the exchange operates four stablecoin-only markets for TUSD/USDT, USDC/PAX, USDC/TUSD, and USDC/USDT. The four markets support coins that are all pegged at $1 with a volume of close to $10 million a day.

The four new stablecoins that have been listed by the exchange also represent four of the top US dollar stablecoins that are available today in terms of market cap. According to data on Stablecoin Stats, we can see that these four projects have a combined market cap of over $2.5 billion. However, it must be said that Tether (USDT) still dominates this market with over $2 billion of that market cap.

In the official announcement, Binance said that it will open trading for the new pairs at 10AM (UTC) on February 14th.

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Nawaz Sulemanji

Nawaz has been hooked on crypto since buying his first Bitcoin’s in 2013. After studying maths in London, Nawaz initially spent the first eight years of his career working globally across corporate supply chain’s before transitioning into the decentralised finance industry as a margin-trader and consultant. He’s a fan of open-blockchains because “it enables self-sovereignty”.