Crypto Exchange Binance Converts USDP, USDC and TUSD Balances to BUSD
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Binance will start automatically converting some stablecoins on user balances into BUSD starting on September 29.
According to the press release:
“In order to improve liquidity and capital efficiency for users, Binance is implementing auto conversion for existing user balances and new deposits in USDC, USDP and TUSD stablecoins at a 1:1 ratio.”
According to them, users will begin “trading a consolidated BUSD balance,” which will reflect their assets in four stablecoins.
The CZ-owned trading platform has written:
“This will not affect the withdrawal choice, users can still withdraw funds in USDC, USDP and TUSD at a ratio of 1:1 to the balance of the account denominated in BUSD.”
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