Wazirx plans to delist 3 stablecoins, remaining balance will be automatically converted to BUSD – Bitcoin News

Crypto asset exchange Wazirx followed Binance’s move by delisting some stablecoins and automatically converting them to BUSD at a 1:1 ratio. If Wazirx clients do not wish to convert funds, they must withdraw their stablecoins by September 23.

Wazirx plans to drop 3 stablecoins and automatically convert them to BUSD by October 5

In the first week of September, Binance, the world’s largest cryptocurrency exchange by trading volume, disclose It will drop some stablecoins. Binance also noted at the time that customers have a certain amount of time to withdraw the stablecoin, otherwise the funds will be automatically converted to BUSD.

On September 19, 2022, cryptocurrency exchange Wazirx said it would no longer support deposits of USDC, TUSD and USDP.This announcement Details released Monday indicate that customers can still withdraw the aforementioned stablecoins, but only until Friday, September 23.

Wazirx will “support the withdrawal of USDC, USDP and TUSD until September 23, 2022 at 5:00 pm” and “delist USDC, USDP and TUSD spot market pairs at 7:30 am IST on September 26, 2022”, trading The announcement states that by October 5th, any stablecoin balances left on the exchange will be automatically converted to BUSD.

Binance and Vazix After Circle’s CEO Jeremy Allaire commented on Binance’s decision to drop USDC, TUSD and USDP, Trueusd and Paxos representatives supported the idea. Wazirx’s move also follows Report about disagreement Both exchanges have so-called acquisitions and operations.

Seven days ago, cryptocurrency exchanges Say The Indian Enforcement Directorate (ED) has abandoned the company’s bank account.Indian regulator disclose In early August, ED authorities froze Wazirx’s bank account.

tags in this story

automatic conversion, Binance, Binance BUSD, Binance USDC, Binance Wazirx, Binance’s BUSD, USD/USD, Central Consortium, Circle CEO, Circle Finance, circle founder, Indian Exchange, Jeremy Allaire, Paxos, stablecoin, three stablecoins, transfer binance wazirx, real dollars, TUSD/BUSD, TUSD/USDT, USD-pegged tokens, dollar coins, USD stablecoin, USD stablecoin, USDC spot trading, USDC support, Vazix, Wazirx Binance, Wazirx Exchange

What do you think of Wazirx dropping support for the three stablecoins and automatically converting balances to BUSD? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News for Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News on the disruptive protocols emerging today.




Image Source: Shutterstock, Pixabay, Wiki Commons, Editorial Photo Credit: sdx15/Shutterstock.com

Disclaimer: This article is for reference only. It is not a direct offer or invitation to offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused or related to the use of or reliance on any content, goods or services mentioned herein.



Source link