Binance will reopen the USDC USDT spot trading pair today and launch the TUSD trading pair in BTC, ETH and other currencies
On March 11, according to the latest announcement, Binance announced that it would open BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT and USDP/USDT spot trading pairs at 22:00 Beijing time today. In addition, Binance has basically stopped the BUSD automatic exchange service of USDC, USDP and TUSD newly recharged by users, and users will no longer be able to withdraw USDC, USDP or TUSD from their BUSD balance. Any user who wants to convert his/her BUSD balance to USDC or USDP in a 1:1 ratio can manually operate it on the Binance Convert. The deadline is 14:00 Beijing time, March 18, 2023.
Interpretation of this information:
The message is an announcement from Binance about opening new spot trading pairs and stopping the BUSD automatic exchange service for USDC, USDP, and TUSD. The new trading pairs include BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT, and USDP/USDT, which will be available for trading starting at 22:00 Beijing time. Meanwhile, Binance has stopped the automatic exchange service for BUSD, and users are no longer able to withdraw USDC, USDP, or TUSD from their BUSD balance. However, users can manually convert their BUSD balance to either USDC or USDP in a 1:1 ratio using the Binance Convert feature. The deadline for the manual conversion is March 18, 2023, 14:00 Beijing time.
The announcement indicates that Binance is making some significant changes to its platform, particularly in terms of trading and the use of BUSD. The addition of new spot trading pairs shows that Binance is expanding its offerings to include more trading options for its users. It is notable that all of the new trading pairs involve TUSD or USDT, which suggests that Binance is placing more emphasis on these stablecoins as part of its trading ecosystem.
The decision to stop the automatic exchange service for BUSD is also significant because it limits the options available to users who want to trade on Binance. However, the manual conversion option offered by Binance Convert provides an alternative for those who want to convert their BUSD balance to either USDC or USDP. The deadline for the manual conversion is nearly two years away, giving users plenty of time to make the conversion if they choose to do so.
Overall, the message suggests that Binance is focused on expanding its platform and improving its offerings for users. The addition of new trading pairs and the optimization of BUSD are both part of this strategy.
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