The cryptocurrency exchange Binance has removed the stable cryptocurrency Stable USD (USDS) from its platform. The money of users with USDS will be converted to BUSD within 3 days.
Binance, the world’s largest cryptocurrency exchange, has excluded StableUSD (USDS), a stable cryptocurrency indexed to the US Dollar starting from 10.00 CET today. In the statement made by the stock exchange, it was reported that the deposit and withdrawal transactions for USDS were suspended.
Binance will convert users’ USDS to BUSD in the same proportion within three days.
The statement also said, “The Binance team conducts comprehensive and periodic reviews of every digital asset listed on our platform to ensure that projects maintain a high quality standard to protect our users. If a coin or token falls below this quality standard, it is subject to further scrutiny and potentially unlisted. Going forward, we are committed to protecting our users and all Binance stakeholders, and we will continue to periodically review all the coins and tokens listed. ” expressions were included.
Binance alone accounts for 96 percent of USDS ‘market. Cryptocurrency is listed on Bittrex as well as an unknown cryptocurrency exchange such as VCC Exchange. USDS has been on the market since February 2019.