The world’s largest cryptocurrency-trading platform will convert user balances in the stablecoins USDC, USDP and TUSD to BUSD, its own stablecoin. It will also stop supporting “trading pairs,” or direct conversion of one cryptocurrency to another, involving the delisted stablecoins. Users will still be able to withdraw funds in the delisted stablecoins. (The Logic)

Talking point: Stablecoins power the crypto sector by allowing users to make trades using an asset with a predictable value—usually one token per one U.S. dollar—without converting back and forth into government-issued currencies and involving multiple international banks. Stablecoin issuers—including Circle, the maker of the world’s second-largest stablecoin USDC—have attracted the attention of regulators, who have expressed concern about what happens if users try to redeem their stablecoins for actual dollars en masse. On Twitter, Circle CEO Jeremy Allaire called Binance’s move “a good thing,” arguing it will eventually lead to increased market share for USDC and BUSD over rival Tether.