Crypto Exchange Wazirx to Delist USDC in Boost for Binance's Stablecoin

WazirX is delisting USDC, USDP, and TUSD on September 26, and the crypto exchange has also stopped deposits, according to a blog post Monday.

WazirX said withdrawals of the above stablecoins can occur until Sept. 23, and the exchange will utilize auto-conversions of BUSD for customers’ current balances of the stablecoins that are to be delisted. The move will occur at a 1:1 ratio.

In August, Binance CEO Changpeng Zhao urged users of WazirX to transfer their funds to Binance after WazirX was being probed by Indian government agencies. Disagreements between Binance and WazirX also occurred at the time in regards to whether or not Binance owned WazirX.

Binance said earlier this month it was going to automatically move customers' funds to its Binance USD (BUSD) stablecoin from alternatives including USDC.

WazirX said the auto-conversion will occur on or before October 5.

Read more: Binance, Issuer of Third-Biggest Stablecoin, to Stop Supporting Larger Rival USDC