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Notice Regarding the Removal of BUSD and Conversion of BUSD to USDT

Pionex Support
  • Updated

Dear Users,

Due to Paxos has halted minting of new BUSD, Pionex will cease its BUSD-related product services by December 14, 2023.

Spot Trading:

  • On December 11, 2023, at 02:00 (UTC), Pionex will delist AGIX/BUSD, LUNC/BUSD, and LUNA/BUSD spot trading pairs and cancel corresponding robot and manual orders.
  • On December 14, 2023, at 08:00 (UTC), Pionex will delist BTC/BUSD, ETH/BUSD, BNB/BUSD, BUSD/USDT spot trading pairs and cancel corresponding robot and manual orders.
  • Any incomplete spot orders for the above pairs will automatically be closed when the trading pairs are delisted. We strongly recommend users to close or cancel manual and robot orders for the corresponding pairs before the delisting to avoid potential losses.

Deposit and Withdrawal Services:

  • Pionex has suspended deposit services for BUSD-related networks.
  • Withdrawals for BUSD (ERC20) will be available until December 14, 2023.
  • Users are advised to withdraw or manually convert BUSD to USDT before December 14, 2023.

Swap:

  • After 08:00 (UTC) on December 14, 2023, all BUSD swap trading pairs will be removed.

Structured Product:

  • Pionex will settle dual-investment orders using BUSD at 08:00 (UTC) on December 14, 2023, based on the index price of the corresponding USDT trading pair. The refunded BUSD will be exchanged at a 1:1 ratio to USDT and will be credited to the main account within 7-14 working days.

Arbitrage bot:

  • Arbitrage bot(Moderate mode) can no longer have the option for BUSD settlement.

Notice:

  • Pionex will list the AGIX/USDT spot trading pair on December 11, 2023.
  • Following the delisting of BUSD-related trading pairs, the associated assets will be retained in the main account. Users are free to opt for alternative trading pairs to manage their related assets.
  • Users have the option to manually redeem BUSD before December 14, 2023. After the removal of BUSD-related services, any remaining BUSD positions will be converted into USDT by the Pionex team at the optimal market rate. These converted funds will be reissued to the main account within 7-14 working days.

Thank you for your support of Pionex!

Pionex Team
December 9th, 2023

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