Binance Margin will be delisting 25 trading pairs involving Binance USD (BUSD). These pairs include BEL, BOND, BURGER, C98, CTXC, ENS, FLUX, ICX, IOTX, KAVA, KDA, LAZIO, MINA, NEO, OCEAN, ONT, POND, QNT, REEF, SANTOS, SFP, SUPER, STG, TLM, and VIB. The delisting will take place on October 6th at 6:00 a.m. (UTC).
During this time, Binance Margin will close users’ positions, perform automatic settlements, and cancel pending orders for these pairs. After the delisting, these pairs will no longer be available for Margin Trading on Binance.
However, it’s important to note that this announcement only affects the BUSD pairs of these assets on Margin. Users can still trade these assets on other available trading pairs on Binance Margin.
Binance advises its users to close their positions and transfer their assets from margin wallets to spot wallets before October 6th at 6:00 a.m. (UTC). This is because users will not be able to make updates to their positions during the delisting process.
This decision from Binance is part of their gradual phasing out of support for Binance USD (BUSD) stablecoin. Earlier this year, regulatory pressures led to the cessation of BUSD token minting by stablecoin issuer Paxos. Binance has previously announced that it would terminate support for BUSD by February 2024. Therefore, Binance encourages users to convert their BUSD tokens to other stablecoins before the specified time.