Indian exchange WazirX follows Binance in delisting USDC

Indian exchange WazirX follows Binance in delisting USDC


Major Indian cryptocurrency exchange WazirX has opted to delist the USD Coin (USDC) from its platform and convert the remaining balances into Binance-backed Binance USD (BUSD) stablecoin.

WazirX officially announced on Monday that it has stopped deposits of USDC alongside other stablecoins like Pax Dollar (USDP) and TrueUSD (TUSD).

According to the announcement, the platform will instead offer the BUSD stablecoin to enhance liquidity and capital efficiency for users. WazirX will implement BUSD auto-conversion for users’ existing balances of USDC, USDP and TUSD at a 1:1 ratio on Oct. 5, the firm said.

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“Users will be able to view their USDC, USDP and TUSD balances under the BUSD-denominated account balance when the conversion is complete,” the exchange noted. “WazirX may amend the list of stablecoins eligible for auto-conversion,” the

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