Will Binance delist USDC?

Binance says it will delist USDC in favor of its native BUSD stablecoin. Users will still be able to withdraw funds in USDC, USDP and TUSD at a 1-to-1 ratio. stablecoin beginning Sept. 29. Here’s what you need to know.

Why did USDC outflow from Binance?

Since Binance's announcement that it woulddiscontinue support for competing stablecoins on its exchange, the world's largest by volume, USDC outflows from Binance—that is, the number of USDC stablecoins leaving the exchange—are up by 93%. Meanwhile, USDC's market cap has fallen by 5%.

How will Binance's consolidated USD balance work?

Effective Sept. 29, users will trade with a consolidated Binance USD balance on the Binance Platform that reflects their balances of each of the stablecoins. Binance users will still be able to withdraw funds in USDC, USDP, and TUSD at a 1-to-1 ratio to their BUSD denominated account balance.

What is Binance BUSD auto-conversion?

Binance is introducing BUSD Auto-Conversion for users' existing balances and new deposits of USDC, USDP and TUSD stablecoins at a 1:1 ratio. With effect from 2022-09-29 03:00 (UTC), users will trade