Binance will start converting USDC, USDP and TUSD stablecoins to BUSD
The innovations will come into force on September 29
06.09.2022 - 08:15
460
2 min
0
What’s new? Cryptocurrency exchange Binance has announced that it will begin automatic conversion of existing and new USDC, USDP, and TUSD stablecoin deposits into its own stablecoin Binance USD (BUSD) at a ratio of 1:1. The company says this move will improve liquidity and capital efficiency for the platform’s customers. The exchange’s representatives noted that the innovations will not affect the withdrawal of funds, users will still be able to choose the stablecoin they need. The changes will take effect on September 29.
#Binance to Auto-Convert $USDC, $USDP, $TUSD to #BUSD (Binance USD).— Binance (@binance) September 5, 2022
More details about the innovations. Binance added that the company may change the list of stablecoins suitable for automatic conversion. In fact, such a decision excludes competing assets from the listing.
According to CoinMarketCap, USDC ranks second in terms of market capitalization at $51,8 billion. BUSD ranks third with a figure of $19 billion.
Earlier, Binance reported the cancellation of fees for spot trading of Ethereum in pairs with BUSD. The promotion will run from August 26 to September 26. The company believes that the upcoming network upgrade will provide an influx of new users.
For more details on why Binance imposes fee-free trading, see GetBlock Magazine’s editorial.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$97 636
BTC
+0.7%
-
Ethereum
$3 488.78
ETH
+5.54%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.43
XRP
+4.62%
-
Dogecoin
$0.417775
DOGE
+1.41%
-
Cardano
$1.02
ADA
+3.27%
-
Stellar XLM
$0.501268
XLM
-2.11%
-
Polkadot
$8.74
DOT
+1.11%
-
Bitcoin Cash
$525.01
BCH
+6.88%
-
Litecoin
$96.86
LTC
+2.53%