Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
Philippine Digital Asset Exchange, more commonly referred to as PDAX, will soon be delisting Binance USD (BUSD) on the PDAX platform. BUSD issuer Binance has announced that it will be gradually ceasing support for the US dollar-pegged stablecoin come February 2024.
On August 31, 2023, Binance released a statement on its decision to delist BUSD. This is attributed to the events that took place in February, when its partner Paxos was ordered by the New York state’s financial regulator to halt minting BUSD.
As a part of PDAX's efforts to ensure that its clients have full control over their assets, PDAX advises that its clients convert their BUSD to any cryptocurrency of their choice available on PDAX, convert them directly to the Philippine peso (PHP), or withdraw their assets and transfer them to another platform before October 27, 2023.
As per PDAX, in case its clients fail to withdraw or exchange their BUSD assets on the said date, they will automatically convert their assets to PHP based on the prevailing rate at the time of conversion.
To know more about PDAX, you may consider the following topics:
How Do I Start Trading in PDAX? How to Open an Account?
GCash taps PDAX for GCrypto Service
Filipino CryptoCurrency Exchange PDAX Launches Five New Coins to Meet Local Demand for more Crypto Options
PDAX, the Leading Virtual Asset Provider (VASP) in the Philippines, Taps Notabene for Travel Rule Compliance
PDAX Unveils New 'Donate' Service Enabling NGOs to Accept Crypto Donations from Anywhere in the World
Tiger Global Leads USD 50M Funding Round for PDAX
PDAX is the leading digital asset exchange in the Philippines, a safe, easy-to-use, platform for Filipinos to buy and sell cryptocurrencies. The company launched in 2019. PDAX believes that blockchain technology and digital assets are integral components of financial inclusion in the Philippines, creating a level playing field and empowering Filipinos. For more information about PDAX, visit our official website at https://pdax.ph/ or download our mobile app from the Google Play Store, Apple App Store or from Huawei App Gallery to start trading today!
For more updates about
Personal Development, Financial and Investment Education. Join and Subscribe to my Newsletter.
ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.