Binance is phasing out Binance USD (BUSD) trading pairs due to liquidity and efficiency problems to improve trading market quality and protect customers.
Due to their frequent evaluation of listed spot trading pairs, low-liquidity and low-volume pairings may be delisted.
In a recent announcement, Binance officially disclosed that it will discontinue several spot trading pairs on September 22, 2023.
Noteworthy pairs that will be removed from the exchange include ACA/BUSD, ALPHA/BUSD, ALPINE/BUSD, ANT/BUSD, ASR/BUSD, ATM/BUSD, BAL/BUSD, DGB/BUSD, FIRO/BUSD, GAL/BUSD, OOKI/BUSD, PORTO/BUSD, PSG/BUSD, RVN/BUSD, and TWT/BUSD.
Additionally, the exchange is urging its users to convert their BUSD holdings to other stablecoins before February 2024.
This decision comes as a response to regulatory pressures on Paxos, the issuer of BUSD, which has compelled Binance to discontinue its support for this particular stablecoin.
This move is consistent with Binance’s recent practice of gradually phasing out BUSD trading pairs across spot, margin, and futures markets.
Furthermore, newly listed cryptocurrencies will no longer be paired with BUSD on the platform.
The removal of BUSD from spot trading pairs is part of the exchange’s broader strategy to implement changes that align with its exchange policies.
BUSD has also been gradually phased out from various Binance products, including Liquidity Pools, Gift Cards, Lending, and leveraged transactions.
It’s worth noting that Coinbase, another prominent cryptocurrency exchange, had previously delisted BUSD on March 13, 2023, citing concerns about regulatory compliance, as the token did not meet its listing standards.
