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Binance has announced it will stop support for BUSD and has asked users to convert their funds to other stablecoins.

Binance plans to gradually reduce support for BUSD products by February 2024, according to an announcement from the crypto exchange today.

Binance has advised its users to convert their Binance USD (BUSD) holdings to First Digital USD (FDUSD) as it intends to phase out support for BUSD by February 2024, according to an Aug. 31 statement.

The exchange revealed that it will gradually phase out its support for BUSD due to Paxos discontinuing the issuance of new BUSD tokens.

At the moment, the FDUSD works in agreement with the Ethereum and BNB (Buy and Burn) tokens. The First Digital Trust Limited plans on expanding its working operations on other blockchains to enhance adaption by other citizens.

For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects.

The total market cap of stablecoins has been on a continuous decline for 17 months, now standing at $124 billion, its lowest level since August 2021, according to CCData. The data aggregator highlighted a broader impact of the decline in stablecoin's monthly trading volume.

Key Points: Binance has unveiled exciting updates for its Cross Margin and Isolated Margin platforms. The addition of FDUSD, a new borrowable asset, marks a significant expansion of Binance's margin offerings.

An unexpected technical hiccup caused a delay in Binances rollout of First Digital USD (FDUSD) stablecoin trading on July 26, 2023. The new digital currency, developed by the Hong Kong-based First Digital Group, was set to launch on the trading platform, but complications encountered by liquidity providers for FDUSD pairs put a pause on the plans.

Tether CTO, Paolo Ardoino, has raised speculation by tweeting a cryptic message. Amid increased stablecoin launches, Ardoino has questioned the legitimacy of recent market movements without naming a particular coin.

Binance introduces FDUSD trading pairs with major cryptos following a thwarted hack attempt. Diversification and resilience shine even as BUSD's regulatory concerns linger.

The crypto exchange listed the Hong Kong-regulated First Digital's FDUSD stablecoin last week.

In a recent turn of events, the cryptocurrency world has been introduced to two stablecoins anchored to the U.S. dollar — Aave's gho (GHO) and First Digital's stablecoin FDUSD. These dollar-tied tokens have rapidly gained momentum, witnessing substantial growth in market capitalization soon after their debut.

Binance will list both bitcoin and ether trading pairs for First Digital USD tomorrow — but BTC/FDUSD will temporarily have no trading fees.

Binance, one of the world's leading cryptocurrency exchanges, is set to announce new stablecoin partners soon, according to Binance founder Changpeng Zhao (CZ).

FDUSD traded at a premium to the world's largest stablecoin USDT briefly on 28 July, reflecting greater demand for the newly-listed asset.

First Digital Group, which includes First Digital Trust, one of Asia's leading qualified custodians and a registered trust company headquartered in Hong Kong, announces that its stablecoin, First Digital USD (FDUSD), “issued under the entity FD121, will debut and list on Binance, the world's largest

In an industry-defining move, First Digital Group, a prominent Hong Kong-based financial firm, made waves on July 26 with the announcement of its stablecoin, First Digital USD (FDUSD), getting listed on Binance, the world's largest cryptocurrency exchange by trading volume. FDUSD, issued by First Digital Trust's subsidiary FD121, presents a game-changing alternative to traditional assets in the face of surging market volatility.

As the stablecoin market economy witnessed a loss exceeding $3 billion within a 40-day span, several fresh stablecoin endeavors are emerging. Binance, the globe's leading exchange by trade volume, unveiled three new trading pairs attached to a stablecoin labeled first digital usd (FDUSD) in a recent blog post.

Binance has listed the new stablecoin First Digital USD (FDUSD) and is offering zero trading fees for select FDUSD pairs for a limited time.

Key Points: Binance revealed that due to unforeseen technical issues faced by FDUSD pairs' liquidity providers, they will be temporarily halting trading for First Digital USD (FDUSD). The decision comes as a precautionary measure to ensure utmost protection for their users and maintain the integrity of the trading process.

Hong Kong-based First Digital Group announced on July 26 that its stablecoin, First Digital USD (FDUSD), has been listed on Binance, the world's largest cryptocurrency exchange by volume.

Binance, the world's largest cryptocurrency exchange by volume, announced the listing of a new stablecoin called FDUSD. This decision comes amidst contrasting statements made by Binance CEO Changpeng Zhao (CZ) on the stability of stablecoins.

Binance listed First Digital USD (FDUSD) stablecoin on July 26, 2023, with zero listing fee.