Binance: No plans to auto-convert Tether, though that ‘may change’

Binance told Cointelegraph it has no current plans to 'auto-convert' Tether (USDT) as it will for USD Coin later this month, but noted that this 'may change.'

Any users that are still holding the three stablecoins on Sept. 29 will begin to have their holdings auto-converted to BUSD at a 1:1 ratio over a 24-hour period.that the move was a decision to enhance liquidity and capital efficiency for users, but notably did not make any mention of the largest stablecoin by market cap, Tether USDT.

In a statement to Cointelegraph, a Binance spokesperson confirmed there were no immediate plans to do the same to USDT, but noted that this could change, stating:The spokesperson also confirmed that the auto-conversion and move to cease most trading services for USDC is “not a temporary measure,” and that it “will continue.”

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