Binance Founder CZ Hints At New Stablecoin Partners Amid FDUSD Trading Halt

Key Points:

• Binance founder CZ hints at upcoming stablecoin partnerships, alongside FDUSD, during an AMA session.
• Binance temporarily halts FDUSD trading due to technical issues but assures users of a prompt resolution and plans to resume trading soon.

Binance, one of the world’s leading cryptocurrency exchanges, is set to announce new stablecoin partners soon, according to Binance founder Changpeng Zhao (CZ). 

During a recent AMA session, CZ revealed that alongside First Digital USD (FDUSD), the platform has plans to collaborate with additional stablecoin projects. While specific details are being kept under wraps for now, CZ assured users that Binance remains committed to supporting multiple cryptocurrencies, further enhancing the platform’s robust and diverse offerings.

In light of recent technical issues, Binance temporarily suspended trading for FDUSD to ensure utmost protection for users and maintain the integrity of the trading process. The precautionary measure aims to rectify the technical issues promptly and diligently, safeguarding users’ assets and providing a seamless trading experience.

All trading activity involving FDUSD were temporarily paused as of July 26, 2023 at 09:45 (UTC), and any pending orders on FDUSD pairings were automatically canceled during this period. The halt in trading activities took effect. Trading pairs BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT that are spot-based are among those that have been impacted.

The platform remains committed to promptly resolving the technical issues and has set a timeline for the trading halt. Users can expect trading for FDUSD pairs to resume at 14:00 (UTC) on July 26, 2023. With thorough measures in place, Binance aims to restore full functionality, providing users with a seamless and secure trading experience.

As the platform prepares to unveil new stablecoin partnerships and address technical concerns, the exchange continues to demonstrate its dedication to offering a comprehensive and reliable platform for cryptocurrency enthusiasts worldwide. The upcoming collaborations and resolution of technical issues are likely to further strengthen Binance’s position as a leading player in the crypto space.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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