{"id":21751,"date":"2023-08-31T08:15:06","date_gmt":"2023-08-31T08:15:06","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/binance-pushes-new-stablecoin-as-it-confirms-plan-to-cease-busd-support\/"},"modified":"2023-08-31T08:15:08","modified_gmt":"2023-08-31T08:15:08","slug":"binance-pushes-new-stablecoin-as-it-confirms-plan-to-cease-busd-support","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/binance-pushes-new-stablecoin-as-it-confirms-plan-to-cease-busd-support\/","title":{"rendered":"Binance pushes new stablecoin as it confirms plan to cease BUSD support"},"content":{"rendered":"
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Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD.\u00a0<\/p>\n
In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 \u2014 a decision in line with Paxos’ plans to end BUSD redemption at that time.\u00a0<\/p>\n
The official statement is the first time Binance has addressed the subject after several users shared screenshots of a pop-up on their mobile app about the planned support halt.<\/p>\n
\nFYI: Binance will stop BUSD in 2024<\/p>\n
According to an official announcement on crypto exchange Binance\u2019s app, the exchange pops up a notification for users that they will stop supporting BUSD in 2024. <\/p>\n
This is an elignment with Paxos phase out for purchasing BUSD by February\u2026 pic.twitter.com\/XiRPy71b3p<\/a><\/p>\n