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Binance has announced they have completed the swap of all BTC and BNB in the SAFU fund to USDC.

The Secure Asset Fund for Users (SAFU), established by Binance in 2018, acts as a financial safety net for its users during times of extreme market volatility. By converting the entire fund into USDC, Binance aims to provide greater certainty and reliability to its users, especially during turbulent market conditions.

Binance has converted $1 billion of its emergency user safety fund to Circle's stablecoin, although the exchange did not explain why. The post Binance converts $1B emergency fund to USDC appeared first on Crypto Briefing.

As part of its SAFU policy, Binance will transfer BTC, BNB, and USDT into USDC holdings.

This fund underscores Binance's commitment to user safety and security, distinguishing it from other cryptocurrency exchanges. Over the years, SAFU has proven to be a crucial element in Binance's strategy to enhance user trust and security.

Binance has completed the conversion of its Secure Asset Fund for Users (SAFU) into Circle's USD Coin (USDC) stablecoin, according to on-chain data. In an April 18 statement, Binance confirmed transferring 100% of SAFU's assets to the USDC stablecoin.

Binance makes a second conversion of its SAFU emergency fund in just over a year.

Exchange Binance has converted 100% of its Secure Asset Fund for Users (SAFU) assets to stablecoin USD Coin. The firm established SAFU in 2018 as an emergency fund for customers during extreme situations. Previously, Binance's wallets held Binance Coin (BNB), Tether (USDT), Bitcoin (BTC), and TrueUSD (TUSD).

Binance, the world's largest cryptocurrency exchange, is now converting its billion-dollar Secure Asset Fund for Users (SAFU) to USD Coin (USDC). This move aims to bolster user trust by utilizing a more stable and transparent stablecoin.

Binance, the top crypto exchange, through the Secure Asset Fund for Users (SAFU), has disclosed an unprecedented financial arrangement for the whole transfer to the Dollar Coin (USDC).

Crypto exchange Binance has made a notable reorganizational move for its billion-dollar SAFU insurance fund, with all the assets in it converting into the USDC stablecoin.

Binance transitions its $1 billion SAFU fund to USDC, now representing 3% of the stablecoin's circulating supply, enhancing fund stability and transparency.

Binance, the world's leading exchange by trading volume, has announced the conversion of its Secure Asset Fund for Users (SAFU) fund into Circle's USDC stablecoin.

In a significant move, Binance, the world's leading cryptocurrency exchange, has made a strategic shift in the composition of its emergency fund, opting for the stability of a stablecoin amid a dynamic market landscape. What Happened: Binance has transformed its user emergency fund entirely into USDC, a stablecoin pegged to the U.S. dollar, Bloomberg reported on Thursday.

In a recent unprecedented plot twist, Binance, the world's leading cryptocurrency exchange, revealed that it plans to convert all SAFU assets into USDC, sparking a buzz across the crypto community. In a post shared by the globally renowned CEX on Thursday, April 18, Binance revealed that it aims to bring the SAFU fund stability and

A newcomer has swiftly risen to prominence in the Stablecoin market, challenging the dominance of traditional players like USDT and USDC. USDe, a recently launched stablecoin, has accumulated a market cap of $2 billion in a very short period.

Scheduled for release on April 18, 2024, these new perpetual contracts will introduce trading pairs for ARBUSDC, NEOUSDC, and FILUSDC, providing traders with exposure to a wider range of digital assets. With leverage options of up to 50x and 75x, these contracts offer the potential for amplified gains for those willing to take on additional risk.

Circle is pleased to announce that native USDC is now available on zkSync and accessible to developers and users – no bridging required. Circle Mint and Circle APIs now fully support USDC on zkSync.

Launched recently, the BUIDL fund presents investors with an opportunity to earn returns in U.S. dollars by investing in secure assets such as U.S. Treasury Bills, all represented as digital tokens on the Ethereum blockchain. This innovative approach marks a notable fusion of traditional financial instruments with the efficiency and transparency of blockchain technology.

Circle, a global digital financial technology firm and the issuer of USDC, announced new smart contract functionality that would allow holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to transfer their shares to Circle for USDC.

Stablecoin issuer Circle just rolled out a new smart contract functionality that enables holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. The BUIDL is asset management giant BlackRock's first tokenized fund that invests in cash, U.S. Treasury bills and repurchase agreements.

BlackRock's BUIDL fund holders can now instantly convert their shares to USDC thanks to new smart contract functionality from Circle.

BlackRock, the global titan in asset management, has made headlines with its integration of the USDC stable coin into its USD Institutional Digital Liquidity Fund (BUIDL). This bold step underscores BlackRock's commitment to driving innovation, enhancing liquidity, and embracing the transformative potential of digital finance.

Circle, the issuer of the USDC stablecoin, has introduced a new feature enabling the transfer of shares from the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to its stablecoin.