In line with its commitment to improve product offerings to better serve users’ needs, Binance announced the discontinuation of all BIDR-related products and services, effective August 20, 2024.
Binance Urges Users to Convert BIDR Assets Before August 20, 2024
Users are advised to take proactive measures by exchanging their BIDR assets for alternative available assets on Binance or converting BIDR to cryptocurrencies using Binance Convert before the stated deadline.
Starting at 11:00 AM on August 20, 2024, BIDR balances remaining in users’ Binance accounts will be automatically converted to FDUSD based on real-time exchange rates provided by xe.com.
Important Points to Consider:
Binance will continue to support BIDR deposits and withdrawals until August 19, 2024 at 02:59.
After 11:00 AM on August 20, 2024, remaining BIDR balances in users’ Spot and Funding wallets will be converted to FDUSD by Binance.
The conversion process can take up to 24 hours or longer, and once completed, FDUSD tokens are transferred to users’ Spot wallets.
Spot Trading:
All existing BIDR spot trading pairs, including BTC/BIDR, ETH/BIDR and USDT/BIDR, will be delisted at 06:00 on May 17, 2024.
Open spot orders for these trading pairs will be automatically closed when the trade ends.
The USDT/BIDR isolated margin pair will be removed from Binance Margin at 09:00 on May 10, 2024.
Isolated margin borrowing for the pair in question will be suspended at 09:00 on May 7, 2024.
At 09:00 on May 10, 2024, Binance Margin will close users’ positions, perform automatic settlement, and cancel all pending orders for the USDT/BIDR isolated margin pair before they are removed from the margin.
*This is not investment advice.