This is a general announcement. The products and services mentioned may not be available in your region.
Hello Binancian:
This announcement is to notify that Paxos has stopped minting new BUSD, and Binance will stop supporting BUSD products on December 15, 2023. We guarantee that BUSD is backed by USD at a 1:1 ratio. Paxos stated that it will continue to support BUSD and that these assets will be redeemable until at least February 2024.
We recommend users withdraw or convert their BUSD to other assets available on Binance before December 15, 2023. Users can exchange their BUSD balances for FDUSD with no trading fees, or convert their BUSD to FDUSD from Binance Convert at a conversion rate of 1:1, without commissions.
Starting December 31, 2023 at 03:00 (UTC), BUSD withdrawals and remaining BUSD balances will be disabled in users' Binance accounts (except those residing in Japan, France, Italy, Poland and Kazakhstan), will be automatically converted into FDUSD at a conversion rate of 1:1. Thereafter, users will be able to continue depositing BUSD on Binance and manually convert their BUSD to FDUSD at a 1:1 conversion rate until further notice.
Additionally, Binance-Peg BUSD collateral will also be converted to FDUSD at a 1:1 conversion rate, and this conversion is expected to take place sometime in December 2023. A separate announcement will be issued to notify users when the warranty conversion is fully completed.
The following changes for BUSD products will take place on the dates indicated below:
Spot:
Binance will remove and cease trading of the following spot pairs:
On December 11, 2023 at 03:00 (UTC): AGIX/BUSD, BUSD/BIDR, BUSD/BRL, BUSD/DAI, BUSD/TRY, EUR/BUSD, FET/BUSD
El 13 de diciembre de 2023 a las 03:00 (UTC): GALA/BUSD, INJ/BUSD, LINK/BUSD, LUNA/BUSD, LUNC/BUSD, RUNE/BUSD, SHIB/BUSD, TUSD/BUSD, WBTC/BUSD
On December 15, 2023 at 03:00 (UTC): ADA/BUSD, ALGO/BUSD, ATOM/BUSD, AVAX/BUSD, BCH/BUSD, BNB/BUSD, DOGE/BUSD
El 15 de diciembre de 2023 a las 05:00 (UTC): BTC/BUSD, BUSD/USDT, DOT/BUSD, ETH/BUSD, FDUSD/BUSD, FTM/BUSD, LTC/BUSD, MATIC/BUSD, NEAR/BUSD, SOL/BUSD, XRP/BUSD
All open Spot orders in the above trading pairs will be automatically closed when trading in the corresponding trading pair ceases.
Binance will end Trading Bot services for the mentioned Spot pairs on December 11, 2023 at 03:00 (UTC), December 13, 2023 at 03:00 (UTC), December 15, 2023 at 03:00 (UTC) and December 15, 2023 at 05:00 (UTC), respectively and as applicable. Users are highly recommended to update or cancel their Trading Bots before the termination of services to avoid possible losses.
Margin:
BUSD will be removed from Margin services according to the schedule announced here.
Deposits, withdrawals and conversions:
As of December 31, 2023 at 03:00 (UTC):
Withdrawals of BUSD (ERC-20) tokens via the Ethereum network will be suspended, and BUSD withdrawals will no longer be supported. Withdrawals of Binance-Peg BUSD tokens via the BNB Chain, Avalanche, Polygon, Tron, and Optimism networks will no longer be allowed starting September 7, 2023 at 00:00 (UTC).
BUSD and Binance-Peg BUSD deposits via the following networks will be temporarily suspended. Be sure to leave plenty of time for your BUSD deposits to be fully processed before then.
BNB Smart Chain (BEP20)
BNB Beacon Chain (BEP2)
Ethereum (ERC20)
Tron (TRC20)
Polygon
Optimism
AVAX C-Chain
All BUSD balances in Spot and Fund wallets will be automatically converted to FDUSD at a 1:1 conversion rate. The conversion may take approximately 24 hours or more. BUSD held by users in Japan, France, Italy, Poland and Kazakhstan will not be automatically converted to FDUSD for the time being. However, we recommend all users to withdraw or convert their BUSD into other assets available on Binance before December 15, 2023.
Following the conversion, BUSD deposits on the aforementioned networks will resume until further notice. A separate announcement will be published to inform users when BUSD deposits resume.
After December 31, 2023 at 03:00 (UTC), any unprocessed BUSD deposits or subsequent deposits will be credited as BUSD. Users can convert BUSD to FDUSD at a 1:1 conversion rate through Binance Convert with no fees until further notice.
Convert y OTC:
Users will now be able to continue converting their BUSD balances to FDUSD at a 1:1 conversion rate via Binance Convert and Binance OTC until further notice.
On December 15, 2023 at 03:00 (UTC), Convert will delist all pairs with BUSD, but will retain the function to convert BUSD to FDUSD at a rate of 1:1.
The conversion of BUSD to FDUSD at a rate of 1:1 will be temporarily suspended from December 29, 2023 at 03:00 (UTC) until the balance conversion process mentioned above is completed. A separate announcement will be published to notify users when the conversion of BUSD to FDUSD at a 1:1 rate resumes.
Please note that the 1:1 conversion rate is only applicable for converting BUSD to FDUSD, and not the other way around.
Loans:
BUSD is no longer available as collateral or for loans. On October 25, 2023 at 07:59 (UTC), Binance Loans (with Flexible and Stable rates) settled outstanding loan orders with BUSD as the lending and collateral asset.
Starting December 13, 2023 at 04:00 (UTC), BUSD will be removed as collateral for VIP Loans.
Earn:
Starting December 11, 2023 at 00:00 (UTC), all open positions in BUSD will be converted to FDUSD in Dual Investment to protect users and ensure that all open positions in BUSD are settled at a rate 1:1 conversion rate for more liquid FDUSD. Before December 11, 2023, Dual Investment will gradually stop offering all BUSD products with settlement dates after December 8, 2023. This provision will supersede all previous announcements.
Starting December 13, 2023 at 03:00 (UTC), Binance Simple Earn will no longer support BUSD. Simple Earn Flexible products in BUSD will no longer be available for subscriptions, and existing BUSD balances in Simple Earn will be automatically refunded and credited to users' Spot wallets. Users are recommended to redeem their assets in Flexible products with BUSD before this date.
Binance Card:
Starting December 13, 2023 at 03:00 (UTC), BUSD will no longer be available as a consumer currency with Binance Card.
Binance Pay:
Starting November 30, 2023 at 03:00 (UTC), Binance Pay will remove BUSD from the list of supported cryptocurrencies for the creation of Red Envelopes.
Starting December 13, 2023 at 03:00 (UTC), Binance Pay will remove BUSD from the list of supported cryptocurrencies for other features.
Gift cards
As of December 13, 2023 at 03:00 (UTC):
Binance gift card redemptions to BUSD will no longer be supported.
Unredeemed BUSD gift cards can be redeemed for FDUSD at a 1:1 conversion rate.
We appreciate your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term sustainable growth. If you have questions, please contact our Customer Service team for assistance.
Use:
BUSD balances in Spot and Fund wallets of users in Japan, France, Italy, Poland and Kazakhstan will not be automatically converted to FDUSD on December 31, 2023. However, we recommend that all such users withdraw or convert their BUSD into other assets available on Binance before December 15, 2023.
Thanks for your support!
The Binance Team
29/11/2023
Note: This announcement was updated on November 29, 2023 to change the delisting date and time for the FDUSD/BUSD Spot trading pair to December 15, 2023 at 05:00 (UTC) instead of December 11, 2023 at 03:00 (UTC).
