BUSD trading is no longer offered at Coinbase

Coinbase advised users on March 13 that their BUSD funds are still available and that they may withdraw them at any moment.

BUSD trading is no longer offered at Coinbase
BUSD trading is no longer offered at Coinbase

Coinbase, a cryptocurrency exchange located in the United States, said on March 13 that it has ceased selling BUSD stablecoin.

In its first statement on February 27, Coinbase cited “listing standards” as the reason for its decision. The February announcement read:

“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Binance USD (BUSD) on March 13, 2023, on or around 12pm ET.”

The decision applies to Coinbase.com (basic and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, according to a February 27 tweet from Coinbase.

On March 13, Coinbase told its users that “your BUSD money will remain available to you, and you will continue to have the opportunity to withdraw your cash at any time.”

A Coinbase representative explained:

“Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes. When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended.”

The wallet-as-a-service (WaaS) solution was released by Coinbase on March 8 to aid businesses in delivering Web3 wallets to their clients.

WaaS provides enterprises with the necessary technical infrastructure to develop and implement completely configurable on-chain wallets, which can then be used by customers.

In addition, the application programming interface (API) for wallets that is provided by WaaS makes it possible for businesses to create wallets that facilitate seamless user onboarding, loyalty programs, and in-game purchases.

On March 11, Coinbase assured its customers that its staking services will continue and “may even expand,” despite a recent crackdown by the United States Securities and Exchange Commission on centralized suppliers offering staking services.

Coinbase made this promise to its customers even though the SEC has been targeting centralized suppliers offering staking services.


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