According to the official announcement, since Paxos has stopped minting new BUSD, Binance will stop supporting BUSD products on December 15, 2023. Your assets are absolutely safe, rest assured that BUSD will always be anchored by the U.S. dollar at a 1:1 ratio. Paxos stated that it will continue to support BUSD and continue to open the BUSD exchange channel until at least February 2024.
Binance reminds users to withdraw their BUSD holdings or convert their BUSD assets to other assets supported by the Binance platform before December 15, 2023. Users can trade their BUSD assets for FDUSD on the Binance spot market with zero fees, or exchange their BUSD assets for FDUSD on the flash swap trading platform at a 1:1 ratio.
Starting from 11:00 on December 31, 2023 (Eastern Eighth District time), the BUSD withdrawal business will stop, and the BUSD balance of the user's Binance account (except for users in Japan, France, Italy, Poland and Kazakhstan) will be 1: A rate of 1 is automatically converted to FDUSD. After that, users can still continue to deposit BUSD to Binance and manually exchange their BUSD for FDUSD at a 1:1 ratio until further notice.
In addition, it is expected that the collateral assets of Binance-Peg BUSD will be exchanged for FDUSD at a 1:1 ratio around December 2023. When the mortgage asset conversion is completely completed, users will be notified separately.