Binance converts its Secure Asset Fund for Users (SAFU) into USDC

ChainCatcher news, Binance stated that the Secure Asset Fund for Users (SAFU) is an emergency insurance fund established in 2018, aimed at protecting Binance users in extreme situations, which is also one of the key distinctions between Binance and other exchanges. Over the years, Binance has been monitoring the scale of SAFU, maintaining a balance of funds to adequately protect users. Although it has fluctuated, it generally remains at the level of $1 billion.

It is reported that SAFU remains a core part of Binance's responsibility to the ecosystem, and Binance is continuously evolving to respond to market conditions. Now, Binance has converted 100% of SAFU's assets into USDC. Utilizing a trusted, audited, and transparent stablecoin to manage SAFU further enhances its reliability and ensures it remains at a stable level of $1 billion.