Circle co-founder: Binance's new stablecoin initiative is good for USDC, adding new use cases for USDC

ChainCatcher news, Circle co-founder and CEO Jeremy Allaire quoted Wintermute founder @EvgenyGaevoy on Twitter, stating: "The new measures for stablecoins by Binance are good for USDC, as they add new use cases for it."

Previously, Binance announced that users' USDC and other stablecoin balances would be fully converted to BUSD. @EvgenyGaevoy believes that removing most stablecoins is a good thing, as liquidity does not need to be distributed among multiple stablecoins, making the work of market makers easier and increasing overall market liquidity. This is beneficial for USDC and others, as users can still seamlessly deposit and withdraw USDC on Binance. (source link)