Binance Will End BUSD Support In February 2024 And Plans To Replace BUSD With FDUSD

Binance announces that it will end BUSD support in February 2024. Users are requiring to gradually stop using BUSD until February 2024. Previously the New York Department of Financial Services (NYDFS) have ordered BUSD issuer Paxos to stop issuing Binance USD (BUSD).

Before the order from NYDFS happened BUSD used to be the third largest stablecoin. Binance plans to support First Digital USD (FDUSD) to replace BUSD. FDUSD issues by by a company from Hong Kong called First Digital Group.