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    Gate.io Will Migrate USDC,TUSD,PAX,BUSD and HUSD for Compliant Stablecoin USD

    Creation Time:2021-08-24 11:37:53 UTCRead:105459

    To provide users with more access to compliant assets, Gate.io launched USD,a compliant stablecoin portfolio comprises USDC,TUSD,PAX,BUSD,HUSD and more. Now we have also launched the USD markets, USDT/USD, BTC/USD, and ETH/USD.
    Starting August 27th, 2021, 4:00 AM UTC, Gate.io will close USDC,TUSD,PAX,BUSD,HUSD markets (these markets are replaced with USD markets) and swap users’ USDC,TUSD,PAX,BUSD,or HUSD balances for USD balance at the ratio of 1:1.
    USDC,TUSD,PAX,BUSD,or HUSD deposits and withdrawals will not be affected. Users can choose any coin in the portfolio (USDC,TUSD,PAX,BUSD,or HUSD ) when depositing and withdrawing USD, without needing to swap from one to another.

    About USD Stablecoin Portfolio
    Blockchain assets achieve an increasing influence in the world. Meanwhile, regulatory policies around the world are becoming clearer and more explicit, which provides judicial guarantees for the long-term formal development of the blockchain industry. Gatet.io has always embraced innovation and compliance, and hopes to provide users with more access to compliant assets. To this end, we have launched a portfolio of USD anchored compliant stablecoin symbols for our users, containing a variety of compliant stablecoins with good industry reputation. The current portfolio includes USDC, TUSD, PAX, BUSD, HUSD, etc. Gate.io’s USD compliant stablecoin portfolio displays the following features:

    (1) The number of compliant stablecoins in the portfolio will be increased or decreased according to the development of the overall industry, in an attempt to provide users with a more regulatory compliant stablecoin asset portfolio and reduce the risk of their stablecoin holdings.

    2) Users can choose to deposit any coin in the portfolio and Gate.io will credit the user’s position in USD coins (to be opened after August 10, 2021).

    (3) Users can choose any currency in the portfolio for withdrawal in USD currency, without manual conversion.

    (4) Users can participate in market trading with their USD positions. Currently, BTC, ETH, XRP, BCH, LTC and many other mainstream coins are supported for USD trading, which can be selected in the Gate.io spot trading module.

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    Gate.io Team

    August 24th, 2021


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