Binance Will Support the Paxos Standard (PAX) Rebrand to Pax Dollar (USDP)

Fellow Binancians,

Binance will support the Paxos Standard (PAX) rebrand to Pax Dollar (USDP). Further details about this change are shown below:

Please note:

• At 2021-09-06 02:00 (UTC), we will suspend PAX deposits and withdrawals. Please ensure that you leave sufficient time for your PAX deposits to be fully processed prior to the mentioned time.
• At 2021-09-06 04:00 (UTC), we will halt trading for all PAX trading pairs (BTC/PAX, ETH/PAX, BNB/PAX, PAX/USDT, PAX/BUSD), and the trading pairs will also subsequently be delisted from the exchange. We will then take a snapshot of all PAX balances and begin the distribution of USDP to all eligible users at a ratio of 1 PAX = 1 USDP.
• At 2021-09-10 04:00 (UTC), we will open trading for the new BTC/USDP, ETH/USDP, BNB/USDP, USDP/USDT, and USDP/BUSD. 
• Deposits and withdrawals for USDP will be opened once the process is complete and we will notify users in a separate announcement.

For further information, please refer to the following:

• The Digital Dollar that Always Equals a Dollar – Paxos Standard (PAX) is now Pax Dollar (USDP)
• More Information about USDP

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

Thanks for your support!

Binance Team

2021-08-30

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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.