Binance, the issuer of the world’s third-largest stablecoin, said on Monday it will convert customers’ holdings in three rival stablecoins USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into its own stablecoin (BUSD) on September 29 to “enhance liquidity and capital-efficiency for users” in a move that has baffled many enthusiasts.
As a result of the move, the world’s largest crypto exchange said it will remove spot, future and margin trading with USDC, USDP and TUSD pairs.
“This will not affect users’ choice of withdrawal: Users will continue to be able to withdraw funds in USDC, USDP and TUSD at a 1:1 ratio to their BUSD-denominated …
