.Binance effectively banished USD Coin (USDC), the second-biggest stablecoin, from trading at its cryptocurrency exchange in favor of its own competing product. by jamiecrawleycd
) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. However, they will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.
The decision effectively banishes the second-largest stablecoin, USDC, from one of the most prominent perches in crypto, erecting an obstacle to overtaking Tether as the . USDT's $68 billion market value leads USDC's $52 billion, while BUSD is in third place at $19 billion. USDP and TUSD are far smaller.
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