Binance Ceases BUSD Support By February 2024: Report
Key Points:
- Binance will stop supporting BUSD products gradually and will delist them from various services at different times.
- Users are encouraged to convert their BUSD assets into other available assets before February 2024.
Binance to cease support for BUSD, urging users to convert prior to Feb 2024. BUSD will be delisted from various services at different times.
Binance has announced that it will gradually cease support for BUSD products in favor of other stablecoins and digital assets on its platform. As Paxos has halted minting new BUSD, the exchange is encouraging users to convert their BUSD assets into other available assets prior to February 2024. BUSD will always be backed 1:1 by USD, so users should have no concerns in that regard.
Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks will cease at @Next Thursday 00:00 (UTC). Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network will continue to be supported until further notice. BUSD will also be delisted from various services at different times.
| Action | Date |
| Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | September 7, 2023 00:00 (UTC) |
| Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network | Until further notice |
| Deposits of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | Until further notice |
| Users can manually convert their BUSD balances to FDUSD at a 1:1 ratio using Binance Convert | Until further notice |
| Simple Earn Flexible Products will stop offering BUSD subscriptions | October 13, 2023 04:00 (UTC) |
| Auto-Invest will discontinue BUSD plan subscriptions | September 15, 2023 02:00 (UTC) |
| Liquid Swap will gradually delist BUSD liquidity pools | N/A |
| Dual Investment will support BUSD | Until December 31, 2023 00:00 (UTC) |
| Flexible DeFi Staking will close all outstanding BUSD positions | September 14, 2023 06:00 (UTC) |
| BUSD will be delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from Binance Loans (Stable and Flexible Rates) | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from VIP Loan | December 13, 2023 04:00 (UTC) |
| Binance Gift Card will delist BUSD | September 30, 2023 02:00 (UTC) |
| BUSD will be deactivated as an order currency within Pay Merchant Service | September 30, 2023 02:00 (UTC) |
| Binance will suspend BUSD borrowings on Cross Margin | September 7, 2023 06:00 (UTC) |
| Cross Margin and Portfolio Margin users won’t be able to transfer in additional BUSD as new collateral to Cross Margin Wallet | From October 19, 2023 06:00 (UTC) |
| BUSD-margined perpetual contracts will be delisted | N/A |
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.
Author
News
Binance Ceases BUSD Support By February 2024: Report
Key Points:
- Binance will stop supporting BUSD products gradually and will delist them from various services at different times.
- Users are encouraged to convert their BUSD assets into other available assets before February 2024.
Binance to cease support for BUSD, urging users to convert prior to Feb 2024. BUSD will be delisted from various services at different times.
Binance has announced that it will gradually cease support for BUSD products in favor of other stablecoins and digital assets on its platform. As Paxos has halted minting new BUSD, the exchange is encouraging users to convert their BUSD assets into other available assets prior to February 2024. BUSD will always be backed 1:1 by USD, so users should have no concerns in that regard.
Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks will cease at @Next Thursday 00:00 (UTC). Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network will continue to be supported until further notice. BUSD will also be delisted from various services at different times.
| Action | Date |
| Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | September 7, 2023 00:00 (UTC) |
| Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network | Until further notice |
| Deposits of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | Until further notice |
| Users can manually convert their BUSD balances to FDUSD at a 1:1 ratio using Binance Convert | Until further notice |
| Simple Earn Flexible Products will stop offering BUSD subscriptions | October 13, 2023 04:00 (UTC) |
| Auto-Invest will discontinue BUSD plan subscriptions | September 15, 2023 02:00 (UTC) |
| Liquid Swap will gradually delist BUSD liquidity pools | N/A |
| Dual Investment will support BUSD | Until December 31, 2023 00:00 (UTC) |
| Flexible DeFi Staking will close all outstanding BUSD positions | September 14, 2023 06:00 (UTC) |
| BUSD will be delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from Binance Loans (Stable and Flexible Rates) | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from VIP Loan | December 13, 2023 04:00 (UTC) |
| Binance Gift Card will delist BUSD | September 30, 2023 02:00 (UTC) |
| BUSD will be deactivated as an order currency within Pay Merchant Service | September 30, 2023 02:00 (UTC) |
| Binance will suspend BUSD borrowings on Cross Margin | September 7, 2023 06:00 (UTC) |
| Cross Margin and Portfolio Margin users won’t be able to transfer in additional BUSD as new collateral to Cross Margin Wallet | From October 19, 2023 06:00 (UTC) |
| BUSD-margined perpetual contracts will be delisted | N/A |
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.
Other Posts
Related Posts
News
90% Of Stablecoin Transaction Volumes Have No Participation From Real Users
News
LayerZero Sybil Detection Report Is Being Conducted With Chaos Labs And Nansen
News
90% Of Stablecoin Transaction Volumes Have No Participation From Real Users
Knowledge
US Election Predictions: The Effects And Importance Of The New US President
News
