This is a general announcement. Products and services mentioned here may not be available in your region.
Dear Binanciens, Dear Binanciens,
As Paxos has stopped issuing new BUSD, Binance will gradually stop supporting BUSD in the use of Binance products. Announcements will be made for all affected services. Rest assured that BUSD will always be backed by USD at a 1:1 ratio.
Binance will continue to support multiple stablecoins and digital assets on its platform. Users have the option to convert their BUSD holdings to other assets available on Binance before February 2024. For example, users can trade their BUSD balances to FDUSD without any trading fees, or convert their BUSD balances to FDUSD at a 1:1 ratio.
Spot and margin:
Binance will gradually delist Spot and margin trading pairs in BUSD. Separate announcements on delisting will be published.
Users can continue to trade supported assets through other stablecoin pairs and other trading pairs on Binance.
On 07/09/2023 at 06:00 UTC, Binance will suspend cross-margin BUSD borrowing. Starting 10/19/2023 at 06:00 UTC, Cross Margin and Wallet Margin users will no longer be able to transfer new BUSD as new collateral into the wallet cross margin. Users can always transfer other tokens as collateral.
Deposits and withdrawals:
Withdrawals of BUSD tokens pegged to Binance via the BNB Chain, Avalanche, Polygon, Tron and Optimism networks will cease on 07/09/2023 at 00:00 (UTC).
Deposits and withdrawals of BUSD (ERC-20) tokens via the Ethereum network will continue to be supported until further notice.
Deposits of BUSD tokens attached to Binance via the BNB Chain, Avalanche, Polygon, Tron and Optimism networks will be supported until further notice.
Convert :
Please note that users can manually convert their BUSD balances to FDUSD at a 1:1 ratio using Binance Convert until further notice. Please note that the 1:1 conversion rate only applies to converting from BUSD to FDUSD, not the other way around.
Earn :
Simple Earn Flexible Products will stop offering BUSD subscriptions effective 10/13/2023 at 04:00 UTC. A separate announcement on the full delisting and automatic redemptions of the remaining BUSD positions will be published.
Auto-Invest will terminate subscriptions to the BUSD plan from 09/15/2023 at 02:00 (UTC). Users must change their BUSD Auto-Invest plan settings before this date in order to opt for solutions like FDUSD. After 09/15/2023 at 02:00 UTC, Binance will automatically update all BUSD Auto-Invest plans to FDUSD Auto-Invest plans.
Liquid Swap will gradually delist BUSD liquidity pools. Separate announcements on delisting will be published.
Double Investment will support BUSD until 12/31/2023 at 00:00 UTC, and new or existing subscriptions will not be affected. No additional subscriptions to the Double Investment in BUSD will be available thereafter.
DeFi Flexible Staking will close all outstanding BUSD positions and return BUSD assets to users' Spot wallets, along with all accumulated rewards, on 09/14/2023 at 06:00 UTC.
Loans:
On 09/06/2023 at 04:00 UTC, BUSD will be delisted as a loanable asset from Binance Loans (stable and flexible rates) and VIP Loans. Outstanding BUSD loan positions will not be affected at this time.
On 09/06/2023 at 04:00 UTC, BUSD will be delisted as a Binance Loan Collateral Asset (Stable and Flexible Rates). Outstanding BUSD loan positions will not be affected at this time.
On 12/13/2023 at 04:00 UTC, BUSD will be delisted as a VIP loan collateral asset.
A separate announcement on the closure of outstanding BUSD loans and collateral positions will be issued.
Gift card :
Binance Gift Card will delist BUSD on 09/30/2023 at 02:00 UTC.
All BUSD gift cards created before 09/30/2023 02:00 UTC can still be redeemed until further notice. To avoid any inconvenience, we recommend users to redeem gift cards containing BUSD tokens in advance, and issuers to sell gift cards containing BUSD tokens in advance.
Pay :
On 09/30/2023 at 02:00 UTC, BUSD will be disabled from selectable currencies in the Binance Pay Merchant service.
All existing BUSD orders placed before 09/30/2023 at 02:00 (UTC) can still be refunded to clients in BUSD until further notice.
Thank you for your support !
The Binance team
31/08/2023
Note: This announcement was updated on 08/31/2023 to add information regarding BUSD deposits and withdrawals attached to Binance via the Optimism network.
