USDC and BUSD. Art by Shane Burke.
Crypto Global
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Behind Binance’s Stablecoin Shuffle; Nasdaq CEO Talks Crypto

Photo: USDC and BUSD. Art by Shane Burke.

Binance said on Monday that it will start automatically converting customer holdings of USD Coin, a stablecoin issued by crypto payment firm Circle, into its own stablecoin, Binance USD. (Binance will also do the same for two less widely used stablecoins.)

What does this abrupt change by the world’s biggest crypto exchange actually mean? Let’s unpack it.

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