Indian cryptocurrency exchange WazirX will delist three stablecoins USDC, USDP, TUSD, and will suspend deposits in these assets to enhance liquidity for binance USD (BUSD).
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The exchange will also auto convert the remaining reserves into BUSD at a 1:1 ratio. WazirX will bring the changes on September 26. The move comes after Binance also suspended support for USDC, USDP and TUSD in order to "enhance liquidity and capital-efficiency."
In August, Binance CEO, Changpeng Zhao (CZ), said that the exchange never completed the acquisition of WazirX even though the exchange had earlier announced the deal in its blog post.
CZ noted that Binance never owned any shares of Zanmai Labs, the entity operating WazirX. It remains unclear if it is the only deal that Binance decided to put on hold without any public announcement.
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