Binance crypto exchange confirmed that it will no longer allow ADA & Matic coin trading in the futures market in BUSD pairs.
Binance is a top-ranked crypto trade platform, thanks to its secured crypto trade services which always remain at top choice among new & experienced crypto traders. In some countries, this exchange provides crypto services via subsidiaries.
On 10 Aug 2023, the Binance exchange announced that it will delist futures trading for the ADA-BUSD & Matic-BUSD pairs. And the new decision will take effect by 17 Aug. In the meantime, no Binance customer will be allowed to open new trade in the mentioned pairs.
This latest announcement by the Binance crypto exchange created a type of confusion among some of the crypto traders. Some users asked whether Binance will delist Ada against all the stablecoin pairs or only BUSD. The detailed announcement noted that it will impact only ADA & Matic futures trading in the BUSD pair.
Here Binance customers also need to understand that trading of these mentioned crypto assets will remain unaffected in the spot market as well as the futures market against other stablecoin pairs.
BUSD stablecoin & legal hurdles
BUSD was a popular native stablecoin of the Binance crypto exchange. Paxos Trust was the backend manager behind this stablecoin & Binance name in this stablecoin was a promotional stunt by the Binance exchange under a partnership with Paxos.
Because of the legal hurdles in Feb of this year, the Paxos trust officially decided to terminate the partnership with Binance & also stopped the issuance of new BUSD stablecoin. In response to that negative situation, Binance exchange also decided to terminate the BUSD stablecoin use priority on its platform. In the recent week Binance established a new stablecoin FDUSD.
Read also: BIS confirms Ripple as an official partner
2 Comments
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