SunCrypto has recently made an important announcement regarding the delisting of Binance USD (BUSD) tokens from its platform. Following the earlier decision, SunCrypto is planning to facilitate the auto conversion of the BUSD holdings into USDT (Tether) for users who have not yet sold or converted their assets into Indian Rupees (INR).
In a move aimed at safeguarding user interests and aligning with market developments, SunCrypto had previously announced the delisting of BUSD from its platform. The decision to delist BUSD was influenced by Paxos’ termination of association with Binance for BUSD tokens.
Automatic Conversion of BUSD into USDT
SunCrypto officially delisted the BUSD/INR pair on December 15, 2023, with all trading, deposits, and withdrawals related to BUSD closed on that date. Users were provided with ample time until December 15th to sell or convert their BUSD holdings as per their preferences.
However, recognizing that some users might not have executed their selling or conversion plans by the stipulated deadline, SunCrypto has announced that it will automatically convert the remaining BUSD holdings to USDT in the coming days.
The auto conversion of the user’s BUSD holdings into USDT will be made before 30th January 2024.
SunCrypto earlier delisted the BUSD/INR pair from its trading services on 15th December 2023 because Paxos terminated its association with Binance for BUSD tokens.
This auto-conversion decision was made to maintain a secure and user-centric environment within SunCrypto.
This proactive step is aimed at assisting users who have not yet transitioned their BUSD assets, ensuring a smoother transition and mitigating potential inconveniences.
SunCrypto emphasizes its commitment to maintaining a secure and user-centric environment within its platform. The decision to automatically convert the remaining BUSD holdings demonstrates the exchange's dedication to prioritizing user interests and ensuring a seamless trading experience.
Users who are affected by this automatic conversion are encouraged to reach out to SunCrypto's support team for any queries or concerns they may have during this transition period. The exchange assures its users that support will be provided to address any issues arising from the automatic conversion.