Binance Introduces New Trading Pairs and Changes to BUSD Exchange Service

03/11/2023 05:35 • NFT Newsflash • 168 views

On March 11, according to the latest announcement, Binance announced that it would open BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT and USDP/USDT spot trading pairs at 22:00 Beijing time today. In addition, Binance has basically stopped the BUSD automatic exchange service of USDC, USDP and TUSD newly recharged by users, and users will no longer be able to withdraw USDC, USDP or TUSD from their BUSD balance. Any user who wants to convert his/her BUSD balance to USDC or USDP in a 1:1 ratio can manually operate it on the Binance Convert. The deadline is 14:00 Beijing time, March 18, 2023.

Binance will reopen the USDC USDT spot trading pair today and launch the TUSD trading pair in BTC, ETH and other currencies

Analysis based on this information:

Binance, one of the largest cryptocurrency exchanges, has made an important announcement on March 11, unveiling some significant changes to its trading platform. The exchange will introduce six new trading pairs, including BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT, and USDP/USDT. These trading pairs will be available for spot trading from March 11 onwards.

Meanwhile, Binance also announced that it would no longer offer its BUSD automatic exchange service for USDC, USDP, and TUSD newly recharged by users. Moreover, users will not be able to withdraw USDC, USDP, or TUSD from their BUSD balance anymore. Instead, users can manually convert their BUSD balance to USDC or USDP in a 1:1 ratio on Binance Convert until March 18, 2023, at 14:00 Beijing time.

In simpler words, these changes mean that Binance users will have more trading options and the ability to exchange their BUSD holdings for USDC or USDP manually. The changes are significant in terms of trade volumes and investor preferences. Binance is leveraging its platform and brand to offer new trading pairs to attract more investors looking for better investment opportunities in the crypto market.

The addition of TUSD to the trading pairs list is a strategic move by Binance, as the token has been gaining ground in terms of adoption and transaction volumes. Given that TUSD is pegged to the US dollar, it offers a stable and reliable alternative to other cryptocurrencies that are more volatile. Meanwhile, USDC and USDP are both stablecoins that are pegged to the US dollar, which is a safe haven for cryptocurrency investors looking for more stability.

In conclusion, Binance’s announcement of new trading pairs and changes to its BUSD exchange service can be seen as a positive move for investors who trade in cryptocurrencies. The new trading pairs are expected to increase trade volumes, while the manual conversion of BUSD to USDC or USDP will provide more flexibility to users. The move shows Binance’s commitment to providing excellent service and keeping abreast of new developments in the crypto market.

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