Binance Encourages Users to Convert BUSD to Other Stablecoins Prior to February 2024
This is a general announcement. Products and services referred to here may not be available in your region.
As Paxos has halted minting of new BUSD, Binance will gradually cease support for BUSD products. Announcements will be released for any impacted services. Please be assured that BUSD will always be backed 1:1 by USD.
Binance will continue to support multiple stablecoins and digital assets on its platform. Users are encouraged to convert their BUSD assets into other available assets on Binance prior to February 2024. Users may trade their BUSD balances for FDUSD at zero trading fees, or convert their BUSD balances to FDUSD at 1:1.
Spot & Margin:
Binance will gradually delist BUSD spot and margin trading pairs. Separate delisting announcements will be released.
Users can continue to trade supported assets via other stablecoin pairs and trading pairs on Binance.
At 2023-09-07 06:00 (UTC), Binance will suspend BUSD borrowings on Cross Margin. From 2023-10-19 06:00 (UTC), Cross Margin and Portfolio Margin users will no longer be able to transfer in additional BUSD as new collateral to Cross Margin Wallet. Users can still transfer in other tokens as collateral.
Deposits & Withdrawals:
Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, Tron and Optimism networks will cease at 2023-09-07 00:00 (UTC).
Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network will continue to be supported until further notice.
Deposits of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, Tron and Optimism networks will be supported until further notice.
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 is only applicable for converting BUSD to FDUSD, and not the other way around.
Binance will gradually delist BUSD-margined perpetual contracts. Separate delisting announcements will be released.
Users can manually convert their BUSD balances in futures wallet to other supported futures margin assets within futures wallet via Futures Asset Conversion function.
Simple Earn Flexible Products will stop offering BUSD subscriptions at 2023-10-13 04:00 (UTC). A separate announcement on full delisting and automatic redemptions of remaining BUSD positions will be released.
Auto-Invest will discontinue BUSD plan subscriptions at 2023-09-20 02:00 (UTC). Users should modify their BUSD Auto-Invest plan settings to alternatives like FDUSD prior to this date. After 2023-09-20 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 delisting announcements will be released.
Dual Investment will support BUSD till 2023-12-31 00:00 (UTC), and any new or existing subscriptions will not be impacted. No additional Dual Investment BUSD subscriptions will be available thereafter.
Flexible DeFi Staking will close all outstanding BUSD positions and return BUSD assets to users’ spot wallets, together with any accrued rewards at 2023-09-14 06:00 (UTC).
At 2023-09-06 04:00 (UTC), BUSD will be delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan. Outstanding BUSD loan positions will not be impacted at this time.
At 2023-09-06 04:00 (UTC), BUSD will be delisted as a collateral asset from Binance Loans (Stable and Flexible Rates). Outstanding BUSD collateral positions will not be impacted at this time.
At 2023-12-13 04:00 (UTC), BUSD will be delisted as a collateral asset from VIP Loan.
A separate announcement on the closure of outstanding BUSD loan and collateral positions will be released.
Binance Gift Card will delist BUSD at 2023-09-30 02:00 (UTC).
All BUSD Gift Cards created before 2023-09-30 02:00 (UTC) can still be redeemed until further notice. To avoid any inconvenience, users are advised to redeem Gift Cards containing BUSD tokens in advance, and minters are advised to sell Gift Cards containing BUSD tokens in advance.
At 2023-09-30 02:00 (UTC), BUSD will be deactivated as an order currency within Binance Pay Merchant Service.
All existing BUSD orders made before 2023-09-30 02:00 (UTC) can still be refunded to the customers in BUSD until further notice.
Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Note: This announcement was updated on 2023-09-15 to amend the discontinuation date of BUSD Auto-Invest plan subscriptions from 2023-09-15 02:00 (UTC) to 2023-09-20 02:00 (UTC), and on 2023-08-31 to add details on Binance-Peg BUSD deposits and withdrawals via Optimism network.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.