Leading cryptocurrency exchange Binance has taken another step in gradually discontinuing support for BUSD products following Paxos’ decision to stop issuing Binance USD (BUSD). The exchange has announced that it will remove trading pairs for BUSD for 21 altcoins and 4 fiat currencies.
Binance’s Removal of BUSD Trading Pairs
Binance continues its cleanup of BUSD trading pairs. The cryptocurrency exchange has recently announced that trading pairs for BUSD will be removed and delisted for 21 altcoins and 4 fiat currencies. According to the announcement from Binance, starting on November 17th at 06:00 (UTC), the following trading pairs will be removed: AAVE/BUSD, AGLD/BUSD, APE/BUSD, BEL/BNB, BNX/BNB, BOND/BUSD, BUSD/PLN, BUSD/RON, BUSD/UAH, BUSD/ZAR, DODO/BUSD, and DYDX/BUSD.
Additionally, on the same day at 08:00 (UTC), the following trading pairs will be removed: FRONT/BUSD, HARD/BNB, MANA/BUSD, ONE/BUSD, OP/BUSD, RNDR/BUSD, ROSE/BUSD, STX/BUSD, TRX/BUSD, VET/BUSD, XLM/BUSD, YGG/BUSD, and ZIL/BNB.
The removal of BUSD trading pairs for these altcoins and fiat currencies will not affect other trading pairs. Users will still be able to buy and sell the base and quote assets of the spot trading pairs on Binance with other available trading pairs.
Binance’s Gradual Discontinuation of Support for BUSD Products
Earlier this year, Paxos’ decision to stop issuing new BUSD forced Binance to gradually discontinue its support for BUSD products. While assuring that BUSD will always be backed one-to-one with the US dollar, the cryptocurrency exchange is removing BUSD products from its platform.
Binance will continue to support different stablecoins and digital assets on its platform. The exchange recommends users to convert their BUSD holdings to other existing assets on Binance before February 2024. Users can either trade their BUSD balances with FDUSD at zero trading fees or convert their BUSD balances one-to-one to FDUSD.
