Cryptocurrency exchange Binance will remove five trading pairs from the platform starting tomorrow. The stock exchange will end the stable crypto currency BGBP, which is indexed to the British Pound.
Binance, the world’s largest cryptocurrency exchange, will remove five trading pairs from the list starting at 15:00 tomorrow. These; It was announced as AE / ETH, BGBP / USDC, BLZ / BUSD, KMD / BUSD and NULS / ETH.
With the exception of BGBP, the above cryptocurrencies can be traded with other trading pairs on Binance.
BGB / USDC was the only trading pair for BGBP. The exchange is completely terminating this cryptocurrency backed by British Pound at a ratio of 1: 1. BGBP was issued by Binance in July 2019 and was listed on the stock exchange during the same period. BGBP was also the exchange’s first experiment with reputation-backed stable cryptocurrencies. According to CoinMarketCap, the amount of crypto money in circulation is around 700 thousand. On the other hand, in BUSD indexed to US Dollars, the figure is over 662 million.
After the trading transactions are stopped, users with BGBP will be able to convert them to GBP 1: 1 with the “Convert” function.
According to the latest data, 9 billion 500 million dollars of transactions were made on Binance in the past 24 hours. Binance is at the top with this transaction volume data.