The action effectively removes the world’s second biggest stablecoin USDC, with a market cap of nearly $52 billion (compared to USDT’s $67.5 billion) as a tradeable asset on Binance’s platform. The move is also a blow to Circle Internet Financial, the issuer of USDC.
Binance to Convert Users’ USDC, USDP, TUSD Into Its Own Stablecoin BUSD
