Binance lists World Liberty stablecoin 'USD1' trading pair

Crypto exchange Binance has initiated a revamp of its spot trading services by newly supporting major USD1-based trading pairs and expanding the application of trading bots. Existing Binance-Peg (B-token) BUSD collateral assets will be converted to USD1.

According to a Binance notice on the 10th (local time), Binance will sequentially open trading for the BNB/USD1, Ethereum (ETH)/USD1, and Solana (SOL)/USD1 trading pairs at 08:00 on the 11th (UTC). From the same time, it will also support trading bot services based on Spot Algo Orders for the three listings.

Binance stated it will convert Binance-Peg BUSD collateral assets issued as B-tokens to USD1 on a 1:1 basis. The conversion process is expected to be completed within about one week from the time of the notice. After the conversion, users can search for 'BUSD' on the B-token collateral status page to check the collateral composition.

Binance explained that it will also provide separate trading support through its OTC desk for users who need large orders.