Binance has decided to delist BIDR pairs, and users have until May 17 to take action.
Users can exchange BIDR for other assets on #Binance until August 20.
The delisting will affect margin trading and P2P.
Leading #cryptocurrency exchange Binance has announced that it will remove trading pairs containing stablecoins backed by the Indonesian rupiah (BIDR). The move is expected to affect #bitcoin (BTC), #CryptoWatchMay2024 (ETH) and Tether (USDT) trading pairs on the exchange's various services.
The exchange has provided a detailed action plan setting a deadline for the termination of the BIDR service. If no action is taken by the specified deadline, it will be up to the user. The most notable features of the delisting will affect these trading pairs in spot margin trading, Binance Convert, Binance Pay, Binance Auto-Invest, Binance Simple Earn, P2P trading and gift card service.
Trading pairs with BIDR tokens as underlying assets, such as BTC/BIDR, ETH/BIDR and USDT/BIDR, will be discontinued by May 17, 2024. Users who have placed orders are advised to sell their positions once the trading pair is delisted.
The USDT/BDR isolated margin pair for margin traders will be delisted on May 10, 2024. Thus, margin trading on this rate will end on that date and investors will need to unwind their positions and withdraw assets to avoid losses.
The Exchange strongly recommends that the delisting of BIDR trading pairs should continue and discontinue the related services to clients so that clients can secure their assets in advance. Customers are advised to redeem their BIDR assets before the expiration date and exchange BIDR for other cryptocurrencies using Binance Convert.
BIDR will be maintained through deposits and withdrawals until August 19, 2024; after August 20, 2024, any unneeded BIDR remaining in a user's tail account will be automatically converted to #FDUSD , a stable cryptocurrency pegged to the U. S.
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