Binance Makes USDC Default Currency for New Binance Pay Users
Binance has introduced a significant update to its payment platform by making the stablecoin USDC the default currency for new users on Binance Pay.
This move marks a strategic shift as the exchange continues to expand its financial ecosystem.
According to Circle, the issuer of USDC, the stablecoin is now automatically set as the primary currency for newcomers to Binance Pay. This platform already supports over 100 other cryptocurrencies, but USDC is now positioned as the go-to option.
In a social media update, Circle highlighted the benefits for users, emphasizing that they can now transfer USDC without gas fees, making it convenient for both personal and business transactions.
Jeremy Allaire, CEO of Circle, praised Binance’s decision, describing it as a major step forward. He pointed out that Binance has quietly evolved into one of the most extensive financial apps globally, with over 250 million users.
By making USDC the default on Binance Pay, which boasts more than 40 million active users each month, Allaire believes this integration will significantly boost access to the stablecoin on the platform.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
