Trading in BUSD is suspended on Coinbase
On March 13, the cryptocurrency exchange Coinbase, based in the United States, declared that it has halted trading for the Binance Dollar.
“Listing standards” were stated by Coinbase as the reason for its decision in its original announcement on February 27. The February press release stated: “We continuously check that the assets listed on our exchange adhere to our listing guidelines. On March 13, 2023, Coinbase will stop trading Binance Dollar ($BUSD) according on our most current reviews.”
The decision is applicable to Coinbase.com (basic and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, according to Coinbase’s Twitter thread from February 27. “Your BUSD funds will remain accessible to you, and you will continue to be able to withdraw your assets at any moment,” Coinbase informed its users on March 13.
According to a Coinbase spokesman, based on internal monitoring and review procedures used by the company, they decided to halt trading in BUSD. BUSD will be suspended after their assessment revealed that it no longer matched their listing requirements.
On March 8, Coinbase unveiled a brand-new commercial product called wallet-as-a-service (WaaS) to help businesses provide Web3 wallets to their clients. WaaS offers technical infrastructure that makes it possible for businesses to design and introduce customizable on-chain wallets. Moreover, WaaS’s wallet API enables companies to develop wallets for straightforward customer onboarding, loyalty schemes, or in-game purchases.
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