News20 September

India's largest crypto exchange WazirX delists USDC


Like Binance, the Indian cryptocurrency exchange will convert USDC, USDP, and TUSD staples into BUSD in October. All of this will happen automatically and at a 1:1 ratio. 

India's largest cryptocurrency exchange WazirX has decided to delist USD Coin (USDC) from its platform and convert the remaining balances into the stablecoin Binance USD (BUSD).

Yesterday, the exchange announced this officially and indicated that it will take all related trading pairs. Also, on October 5, WazirX will auto-convert BUSD for existing USDC, USDP, and TUSD balances at 1:1 if the company's reports are to be believed.

In fact, this is precisely the same move as Binance, just when Circle (the issuer of the USDC stack) started having problems. USDC, USDP, and TUSD withdrawals will remain on WazirX until Friday. The platform plans to delist stablecoins from its spot trading pairs on September 26.

As of this writing, USDC has a market capitalization of $50 billion, more than $17 billion less than rival stablecoin USDT


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