Summary
- Binance announced it is newly listing USD1-based trading pairs and expanding trading bot services.
- It said existing Binance-Peg BUSD collateral assets will be converted to USD1 on a 1:1 basis.
- Binance explained that it will provide separate trading support through an OTC desk for users who need large orders.
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.
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