Binance will remove BUSD and automatically convert the remaining BUSD to FDUSD

ChainCatcher news, according to the official announcement, Binance has announced that it will stop supporting BUSD products on December 15, 2023. Binance reminds users to withdraw their BUSD holdings or convert their BUSD assets to other assets supported by the Binance platform before December 15, 2023.

Users can trade their BUSD assets for FDUSD on the Binance spot market with zero fees, or exchange their BUSD assets for FDUSD at a 1:1 ratio on the swap trading platform.

Starting from December 31, 2023, 11:00 AM (UTC+8), BUSD withdrawal services will be halted, and the BUSD balance in users' Binance accounts (excluding users from Japan, France, Italy, Poland, and Kazakhstan) will be automatically converted to FDUSD at a 1:1 ratio. After that, users can still deposit BUSD to Binance and manually convert their BUSD to FDUSD at a 1:1 ratio until further notice. It is expected that the collateral assets of Binance-Peg BUSD will be converted to FDUSD at a 1:1 ratio around December 2023. An announcement will be made to users when the conversion of collateral assets is fully completed.