Binance.US, the US-based branch of the world’s largest crypto exchange Binance, said on Friday it will remove and discontinue crypto trading for select USD Advanced Trading pairs. The move comes as the US-based crypto exchange is shifting to a “crypto-only exchange,” which only supports trading against other cryptocurrencies and stablecoin pairs.
BinanceUS is scrapping USD advanced trading pairs
Crypto exchange Binance.US said in an official announcement on July 14 that it will permanently remove and stop trading various cryptocurrencies against advanced USD trading pairs. These are Bitcoin, Ethereum, BNB, Litecoin, Polygon MATIC, Cardano, Solana, VeChain, and USDC stablecoin.
The affected advanced trading pairs are ADA/USD, BNB/USD, BTC/USD, ETH/USD, LTC/USD, MATIC/USD, SOL/USD, USDC/USD, VET/USD.
Trading of these cryptocurrencies with USD Advanced Trading pairs ends July 13 at 8PM PDT / 11PM EDT. Although the USDC/USD pair has been removed, USD trading remains available on the USDT/USD Advanced Trading pair.
In addition, users can continue to trade over 150 cryptocurrencies on the Advanced Trading interface in the USDT pairs. It adds that some cryptocurrencies may also support BTC, BUSD, DAI or TUSD trading.
“We recommend that you carefully review your trades and execute or cancel any open orders on affected Advanced Trading pairs before they are removed from Binance.US.”
Also Read: Monochrome and Vasco Deposit Australia’s First Spot Bitcoin ETF Under New Regime
Gradually moving to Crypto-Only Exchange
BinanceUS faces many challenges in the US, including losing banking partners and money makers. While users can continue to buy, sell and convert crypto with USD and use USD to buy and sell 21 cryptocurrencies, it warned that the remaining partners could discontinue USD withdrawal services in the future.
On June 23, BinanceUS worked with its banking partners to resolve all delayed USD withdrawal requests. The crypto exchange completes most USD withdrawal requests within the normal time frame of 5 business days or less.
Also Read: BinanceUS, Crypto.com Join Coinbase And Others To Relist XRP, Price Rise 87%
Varinder has 10 years of experience in the Fintech sector, with more than 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles and newspapers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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