As Paxos has officially halted the minting of new BUSD tokens, Binance is facilitating a full transition from BUSD to its First Digital USD (FDUSD) stablecoin. While BUSD remains fully backed 1:1 by US dollars and your funds are secure, users are encouraged to proactively convert their BUSD holdings to FDUSD or other supported assets. This guide covers all essential details, timelines, and processes for a smooth transition.
Key Timeline Overview
- December 15, 2023: Last day to withdraw BUSD or manually convert it to other assets.
- December 31, 2023, 11:00 (UTC+8): BUSD withdrawals are discontinued. All remaining BUSD balances (except for users in excluded regions) will be automatically converted to FDUSD at a 1:1 ratio.
- Conversion channels and manual swaps remain available until further notice after the automatic conversion.
How to Convert BUSD to FDUSD
Users have multiple options to convert their BUSD to FDUSD:
- Trade BUSD for FDUSD on Binance Spot with zero trading fees.
- Use the Binance Convert tool for a 1:1 instant swap without fees.
- Wait for the automatic conversion on December 31, after which all non-excluded user balances will become FDUSD.
👉 Convert your BUSD to FDUSD now
Product-Specific Updates
Spot Trading
All BUSD trading pairs will be delisted according to the following schedule:
- December 11, 11:00 (UTC+8): AGIX/BUSD, BUSD/BIDR, BUSD/BRL, BUSD/DAI, BUSD/TRY, EUR/BUSD, FDUSD/BUSD, FET/BUSD
- December 13, 11:00 (UTC+8): GALA/BUSD, INJ/BUSD, LINK/BUSD, LUNA/BUSD, LUNC/BUSD, RUNE/BUSD, SHIB/BUSD, TUSD/BUSD, WBTC/BUSD
- December 15, 11:00 (UTC+8): ADA/BUSD, ALGO/BUSD, ATOM/BUSD, AVAX/BUSD, BCH/BUSD, BNB/BUSD, DOGE/BUSD
- December 15, 13:00 (UTC+8): BTC/BUSD, BUSD/USDT, DOT/BUSD, ETH/BUSD, FTM/BUSD, LTC/BUSD, MATIC/BUSD, NEAR/BUSD, SOL/BUSD, XRP/BUSD
All open spot orders in these pairs will be automatically canceled. Trading bot services for these pairs will also be removed—users are advised to close related bots in advance to avoid losses.
Deposits, Withdrawals, and Auto-Conversion
- BUSD withdrawals will be fully discontinued after December 31, 11:00 (UTC+8).
- After this time, all BUSD balances in Spot and Funding wallets (except for users in Japan, France, Italy, Poland, and Kazakhstan) will be converted to FDUSD.
- BUSD deposits will remain open after conversion completes, and users can still manually convert at 1:1 via Binance Convert until further notice.
Leverage, Earn, and Card Services
- BUSD has been removed as a collateral and borrowable asset in Margin and VIP Loans.
- All BUSD Binance Earn flexible products have been delisted, and assets were automatically redeemed.
- BUSD is no longer supported in Binance Card payments or Gift Card services.
Regional Exceptions
Users based in Japan, France, Italy, Poland, and Kazakhstan are excluded from the automatic BUSD to FDUSD conversion. These users must withdraw or convert their BUSD manually before the December 15 deadline.
Frequently Asked Questions
Is my BUSD still safe to hold?
Yes. BUSD remains 100% backed by US dollars at a 1:1 ratio. Paxos will continue to support redemptions until at least February 2024.
What happens if I don’t convert my BUSD before the deadline?
If you are not in an excluded region, your BUSD will be automatically converted to FDUSD after December 31. If you are in an excluded region, you will need to manually convert or withdraw.
Will I be able to convert FDUSD back to BUSD?
No. The 1:1 conversion rate only applies from BUSD to FDUSD. FDUSD cannot be converted back to BUSD.
Are there fees for converting BUSD to FDUSD?
No. Both Spot trading (for FDUSD/BUSD pair) and Binance Convert offer zero-fee conversion at a 1:1 ratio.
What should users in excluded regions do?
Users in Japan, France, Italy, Poland, and Kazakhstan must withdraw BUSD to an external wallet or convert to another asset before December 15, as auto-conversion will not apply.
Will Binance continue to support BUSD deposits?
Yes, BUSD deposits will remain supported even after automatic conversion, but all deposited BUSD will need to be manually converted to FDUSD.
Binance remains committed to supporting a sustainable and transparent crypto ecosystem. This transition is designed to ensure minimal disruption while offering users a stable and liquid alternative in FDUSD.
For further assistance, please reach out to Binance Customer Support.