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Binance Set To Discontinue GBP Stablecoin

One of the biggest crypto exchange Binance announced that it is set to discontinue its GBP stablecoin.

“Binance will remove and cease trading on the following trading pairs at 2020/11/17 12:00 PM (UTC):AE/ETH, BGBP/USDC, BLZ/BUSD, KMD/BUSD and NULS/ETH.Please note that BGBP/USDC is the last trading pair for BGBP,” Binance announced via a media release.

“For users still holding BGBP after trading ceases, they will be able to use the Convert function to convert their BGBP to GBP at a 1:1 ratio.Please note that users can still trade the above assets (excluding BGBP) in other trading pairs that are available on Binance.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses,” it added.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.