TechFlow News, February 13 — Stablecoin issuer Paxos announced it will terminate its collaboration with Binance regarding the stablecoin BUSD. Paxos stated that existing BUSD will continue to be fully supported by Paxos and will remain fully supported and redeemable at least through February 2024. (This may be due to certain collateral being invested in time-bound financial instruments such as U.S. Treasuries.) Both new and existing Paxos customers will be able to redeem their funds in U.S. dollars or convert their BUSD tokens into Pax Dollar (USDP), a regulated, dollar-backed stablecoin also issued by Paxos Trust.Source link
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