Crypto Exchange Binance Will Drop Support for BUSD in 2 Weeks

Binance has recently announced that it will end its support for BUSD on December 15, due to a request from the stablecoin’s issuer Paxos.

In August, Binance stated that it would gradually phase out support for BUSD by February 2024, and encouraged customers to switch to FDUSD.

However, users can still convert their BUSD to FDUSD without any fees.

Binance clarified in a blog post that Paxos will continue to support and redeem BUSD until at least February 2024.

Earlier this year, the New York Department of Financial Services ordered Paxos to stop issuing BUSD.