Binance will Stop supporting one of largest Stablecoin to its platform

Binance, the world's largest cryptocurrency exchange, has shaken up the vital stablecoin market, announcing it will automatically move customers' funds to its Binance USD (BUSD) token from alternatives including the larger USD Coin (USDC).

Yesterday that it will convert all investments in USDC, Pax Dollar (USDP) and TrueUSD (TUSD) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. However, they will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.

The Binance users will get automatically converted usdc into tusdand busd as user preferences and all investment will be converted to usdt ,usdp and busd .

The decision effectively banishes the second-largest stablecoin, USDC, from one of the most prominent perches in crypto, erecting an obstacle to overtaking Tether (USDT) as the biggest one. USDT's $68 billion market value leads USDC's $52 billion, while BUSD is in third place at $19 billion. USDP and TUSD are far smaller.

The business is dominated by 44% market share