Support for BUSD will be discontinued in February 2024 because of SEC's actions. I suppose FDUSD will be their new stablecoin they will support instead of BUSD.
It's a new one from June 2023, backed 1:1 by USD or liquid assets, from what I read, and it's issued by a Hong Kong firm, instead of a US-based one. Exactly what Binance said they would do. Except it's still US-pegged, they initially said they might peg it to another currency in the world but looks like they gave up on that rather silly idea. So, most likely, it's Binance's stablecoin, just like BUSD was. The difference is it doesn't have any history and it isn't issued from a US-based jurisdiction.
yeah its really weird. I used Swissborg today though and it was pretty good.
I will check that. I could imagine that Binance has to do it because of some new regulatory rules.
At least zero fees for BTC/FDUSD for a while.
Support for BUSD will be discontinued in February 2024 because of SEC's actions. I suppose FDUSD will be their new stablecoin they will support instead of BUSD.
Okay... thanks
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BEER.How does the FDUSD rate as a stable coin?
It's a new one from June 2023, backed 1:1 by USD or liquid assets, from what I read, and it's issued by a Hong Kong firm, instead of a US-based one. Exactly what Binance said they would do. Except it's still US-pegged, they initially said they might peg it to another currency in the world but looks like they gave up on that rather silly idea. So, most likely, it's Binance's stablecoin, just like BUSD was. The difference is it doesn't have any history and it isn't issued from a US-based jurisdiction.
Thanks. Another smart move from Binance.