- Binance.US streamlines operations, cuts advanced trading pairs, and pauses OTC services.
- Significant reduction in supported crypto pairs tied to USDT, BTC, and BUSD.
- Binance.US assures customer funds safety while adapting to market changes.
In an effort to streamline operations, Binance.US announced it would cease support for certain advanced trading pairs and pause its Over-The-Counter (OTC) trading portal. The changes, which affect a broad spectrum of crypto pairs tied to USDT, BTC, and BUSD, will come into effect from 9 a.m. PDT on June 8, 2023.
Significant Reduction in Advanced Trading Pairs
The new adjustments from Binance.US will see a substantial decrease in its available advanced trading pairs. Among those being removed are a variety of cryptocurrency pairs tied to USDT, including prominent cryptocurrencies such as 1INCH/USDT, AAVE/USDT, and BCH/USDT, among many others.
In addition, pairs tied to BTC, like ATOM/BTC, BCH/BTC, and DOT/BTC, as well as two pairs tied to BUSD (HBAR/BUSD and ONE/BUSD), are also being culled.
The alterations to the advanced trading pairs align with Binance.US’s plan to refine its Buy, Sell, and Convert offerings. The company will reduce the number of supported Convert trading pairs to 226 and has revised the maximum trade amount for Buy, Sell & Convert to $10,000. The platform continues to support conversions involving popular digital assets such as USDT, USDC, BNB, ETH, BTC, and others.
OTC Trading Portal on Hold
The company also surprised market observers by suspending its OTC Trading Portal services. Binance.US assured customers that they would be alerted when the OTC trading service reopened but did not offer an estimated date for when the service would reopen.
While this news may raise consternation in the cryptocurrency trading community, Binance.US has assured its clients that their cash investments are secure and that deposits and withdrawals will continue normally. Moreover, the decisions reflect Binance.US’s continuous efforts to stay adaptable in the ever-changing landscape of the digital asset market.
In conclusion, Binance.US adapts to market changes, streamlining operations by rethinking trading pairs and pausing OTC services, ensuring security and flexibility in the dynamic crypto landscape.