WazirX has announced that it will end support for USDC, USDP and TUSD stablecoins, just like Binance.
The India-based cryptocurrency exchange announced that withdrawal support for USDC, USDP and TUSD will end at 17:00 (IST) on September 23, after which assets will be automatically converted to BUSD at a 1:1 ratio.
WazirX Follows Binance’s Footsteps
WazirX has announced that it will end support for USDC, USDP and TUSD stablecoins, following in the footsteps of Binance.
WazirX stated that after the withdrawal period expires, deposits will be automatically converted to BUSD. It was stated that the conversion process to BUSD will continue until October 5th at the latest.
WazirX’s decision came just after a major problem with Binance last month. As it will be remembered, at that time, Indian authorities conducted a money laundering investigation against WazirX, and Binance CEO CZ announced that they did not own WazirX.
Although Binance announced the acquisition of WazirX in 2019, CZ stated that the acquisition of WazirX was never completed after the news of the investigation. Nischal Shetty, the founder of WazirX, denied CZ’s claims and an important controversy arose.
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