Binance to Convert Delisted Tokens, Including Bitcoin Gold and Monero, to USDC

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

August 12, 2024 03:51 EDT

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Binance announced on Monday that it will convert several delisted tokens to USDC on Sept. 2.

The tokens to be converted include Bitcoin Gold (BTG), Bitcoin Standard Hashrate Token (BTCST), BitShares (BTS), district0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monero (XMR), Monetha (MTH), Multichain (MULTI), NavCoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM), and Tribe (TRIBE).

Deposits for these tokens are no longer supported and will not be credited to user accounts.

Binance said it will use an average exchange rate for the conversions to USDC. This rate will be determined using the token-to-USDC average exchange rate between Sept. 2 2024, and March 1, 2025.

Once this process is finished, Binance will notify affected users. All users holding the mentioned tokens in their Binance wallets will receive an email notification before Aug. 19.

Also, withdrawals for these tokens will be supported until Sept. 1, 2024, depending on network conditions and availability. After this deadline, withdrawals will no longer be supported. Relatedly, users will be unable to transfer these tokens from their Binance accounts to external wallets.

Further, the conversions to USDC will be finalized by March 1, 2025, 23:59 (UTC), and will apply to all user holdings in Binance wallets. During the conversion period, users won’t be able to view these tokens in their Binance wallets.

Last week, Binance announced new trading pairs for TON, marked with a “seed tag.” This follows TON futures trading, which launched March 1.