Circle, a global internet finance firm, and the principal operator of USD Coin (USDC), today announced the listing of native USDC on TRON (TRC20 token) on Binance.
USD Coin (USDC) is a digital stablecoin that is fully backed by cash and short-duration U.S. Treasuries, ensuring that USDC is always redeemable 1:1 for U.S. dollars. Grant Thornton, a leading global accounting firm, publishes monthly attestation reports regarding USDC reserve balances.
In July, CENTRE, a consortium run by crypto exchange Coinbase and payments firm Circle announced the support to issue USD Coin (USDC) on TRON.
Read Also: USDC Coming On Avalanche, Polkadot, Tezos And 7 New Blockchains
TRON hosts the largest circulating supply of stablecoins across the globe, overtaking USDT on Ethereum in April 2021. The TRON network completed full decentralization in Dec 2021 and is now a purely community-governed DAO.
The new USDC listing will enable Binance users to access the USDC stablecoin as a native TRC-20 token. Users can now deposit and trade native USDC on TRON (TRC20) on Binance exchange, and readily withdraw USDC on TRON to external TRON-supported wallets. The availability of USDC on TRON on Binance builds upon USDC’s global accessibility, providing a seamless experience for millions of users to access the world’s fastest-growing dollar digital currency.
Gee Chuang, Principal Product Manager at Circle, said:
“We’re excited to see USDC available across an increasing number of exchanges, making it easier than ever to access dollar digital currency liquidity. As the TRON ecosystem continues to grow, we believe that USDC will become an even more important part of transferring value simply and efficiently on-chain.”
With more than $42B USDC in circulation as of December 2021, USDC offers frictionless, secure and interoperable access to capital markets, global trade, payments and modern commerce – all at the speed of the internet. USDC on Tron enables users to transact, store, and exchange value across TRON-based protocols and decentralized apps (dApps).
Read Also: Circle Raises $440 Million in Latest Funding Round
