Coinbase will discontinue trading of Binance USD (BUSD) effective from March 13 because the stablecoin doesn’t fulfill its listing standards, the U.S. cryptocurrency exchange notified in a tweet Monday.
“Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes,” a spokesperson told CoinDesk. “When reviewing BUSD we determined that it no longer met our listing standards and will be suspended.”
The suspension impacts Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Users will yet be able to access their BUSD funds and withdraw them at any time, Coinbase said.
BNB, the exchange token of Binance, fell 1% after the news and was trading at $302.57 at press time.