Binance sticking with BUSD for now, ready to explore options

📆 2/13/2023 1:34 PM
📰 TheBlock__

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Binance CEO Changpeng Zhao said the exchange is ready to make adjustments and potentially move away from using BUSD as its main trading pair.

Binance will continue to use BUSD for the “foreseeable future,” while it does see users migrating to different stablecoins.

BUSD accounts for just over 37% of the spot trading volume on Binance. The figure was as high as 39% in recent months. The comments from Binance CEO Changpeng Zhao come as Paxos, the stablecoin issuer behind BUSD, has beento stop issuing the stablecoin by the New York Department of Financial Services. Zhao — better known by his initials, CZ — said Binance will continue to support BUSD for the"foreseeable future."

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Source: Cointelegraph - 🏆 562. / 51 Read more »