Crypto News

Binance to Cease Support for BUSD Products


Content Guide

Binance is dialing down support for BUSD assets, urging users to switch their holdings to other Binance-friendly options by February 2024. You have the option to swap your BUSD without any trading fees, or convert at a 1:1 rate.

Paxos Stops Minting; Binance Reacts

As Paxos ceases the production of new BUSD, Binance will adapt by slowly discontinuing support for BUSD-related offerings. Updates will be shared regarding affected services. Rest assured, BUSD’s 1:1 backing with USD remains.

Binance continues to back a variety of stablecoins and digital currencies. Again, the shift away from BUSD is encouraged before the February 2024 cut-off.

Binance BUSD
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Spot & Margin Changes

BUSD trading pairs for spot and margin will be gradually taken down. Official announcements on the delistings will be communicated separately.

Starting from specific dates, certain BUSD-related functionalities will be restricted. Nevertheless, trading in other stablecoins and pairs remains unaffected on Binance.

Note: As of September 7, 2023, BUSD borrowings on Cross Margin will be halted. And from October 19, 2023, additional BUSD will not be accepted as new collateral for Cross Margin Wallet. Other tokens are still acceptable.


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