{"id":1199113,"date":"2022-09-05T18:48:13","date_gmt":"2022-09-05T18:48:13","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/05\/binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd\/"},"modified":"2022-09-05T18:48:13","modified_gmt":"2022-09-05T18:48:13","slug":"binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/05\/binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd\/","title":{"rendered":"Binance, issuer of stablecoin BUSD, to discontinue support for USDC, USDP and TUSD \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p id=\"speakable-summary\">Binance, the issuer of the world\u2019s third largest stablecoin, said on Monday it will convert customers\u2019 holdings in three rival stablecoins (USDC, USDP and TUSD) into its own stablecoin on September 29 to \u201cenhance liquidity and capital-efficiency for users\u201d in a move that has baffled many enthusiasts.<\/p>\n<p>As a result of the move, the world\u2019s largest crypto exchange said it will remove and cease spot, future and margin trading where they were paired with the USDC, USDP and TUSD.<\/p>\n<p>\u201cThis will not affect users\u2019 choice of withdrawal: users will continue to be able to withdraw funds in USDC, USDP and TUSD at a 1:1 ratio to their BUSD denominated account balance,\u201d said Binance in a blog post.<\/p>\n<p>Issued by Circle, a $7.7 billion firm that counts Blackrock, Fidelity, FTX and Accel among its backers, USDC is the second largest stablecoin with a market cap of over $50 billion. BUSD, Binance\u2019s stablecoin, currently has a market cap a little short of $20 billion.<\/p>\n<p><em>This is a developing story. Check back for updates\u2026.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Binance, the issuer of the world\u2019s third largest stablecoin, said on Monday it will convert customers\u2019 holdings in three rival stablecoins (USDC, USDP and TUSD) into its own stablecoin on September 29 to \u201cenhance liquidity and capital-efficiency for users\u201d in a move that has baffled many enthusiasts. As a result of the move, the world\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1199114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1199113","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1199113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1199113"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1199113\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1199113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1199113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1199113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}