Adding up to the likes of USDT, TUSD, PAX and USDC, a fifth stablecoin will make its way into Binance trading pairs, starting on the second day of February.
Much like when XRP pairs were added into the ETH tab and it had its name changed to Alts, the influx of new stablecoins led to the renaming of the USDT Market to Stablecoin Market.
Now, USDS will be added into the Changpeng Zhao-led exchange. Actually deposits are already possible, in anticipation for tomorrow´s trading. The trading pairs available per the latest announcement will be BNB/USDS and BTC/USDS.
USDS is a stablecoin designed to be pegged on a one to one ratio with the U.S. dollar (1 USDS = $1 USD). A mention towards caution if the price deviates from such ratio is included in Binance’s announcement.
The press release from Binance also mentions that USDS has engaged a top-ranking auditing firm (unclear if one of the big four) to conduct quarterly audits and release balance attestations on a weekly basis of the USDS and USD balances.