Binance Sets Sept. 24 Deadline to Delist USDP Stablecoin

Binance announces phased removal of USDP from platform services

Binance has set a firm timetable for removing Pax Dollar (USDP) from many of its services, beginning with the end of spot trading on Sept. 24. The exchange published a staged schedule on Sept. 10 that affects everything from one-click buy options and margin trading to Binance Pay, Binance Pool, Earn products and withdrawals. While USDP balances will remain withdrawable for a limited time, Binance warned that it may convert any remaining USDP into another stablecoin after the withdrawal window closes.

Key takeaways

• Spot trading for USDP will stop at 03:00 UTC on Sept. 24; all open orders will be cancelled automatically.
• USDP withdrawals remain available until 03:00 UTC on Nov. 24, offering users roughly two months to move funds off the platform.
• Binance may convert leftover USDP into a different stablecoin starting 03:00 UTC on Nov. 25, but conversion rates are not guaranteed and a further announcement would precede any action.
• Paxos, issuer of USDP, continues to assert that the token is backed one-to-one by cash and cash equivalents and that redemptions remain available subject to issuer requirements.

Detailed timeline and affected services

Binance said it conducts periodic reviews of listed digital assets using criteria such as trading volume, liquidity, network security, project development, communications, token supply and evolving regulatory requirements. The announcement did not point to a single trigger event behind the USDP decision and did not assert that Pax Dollar lost its dollar backing or stopped processing redemptions. Instead, the changes apply to Binance services specifically.

Early restrictions and one-click buy/sell

The first change took effect at 03:00 UTC on Sept. 11 when Binance removed USDP and its trading pairs from the One-Click Buy and Sell feature. Isolated and cross-margin lending for USDP was halted at 06:00 UTC the same day. Binance Pay and Binance Pool support for USDP will end at 03:00 UTC on Sept. 16, and the mining-pool service will settle final earnings one day later. Users were advised to stop using impacted services ahead of these deadlines to avoid disruption.

Loans, margin and liquidation risks

Flexible-rate lending and VIP Loan services will remove USDP as a borrowing and collateral asset at 07:00 UTC on Sept. 16. Binance cautioned that outstanding loan orders could be closed or liquidated automatically. USDP margin trading is scheduled to end at 10:00 UTC the same day; Binance will cancel pending orders, settle isolated-margin positions and eliminate related pairs, which may temporarily limit users' ability to update positions while the exchange processes settlements.

Earn, copy-trading and Dual Investment

Binance Earn will take USDP out of its products at 07:00 UTC on Sept. 17. Any flexible or fixed-term holdings remaining within Earn are slated for automatic redemption, with principal and accrued rewards transferred into users' spot wallets. Spot copy trading will remove USDP pairs earlier that day at 03:00 UTC; open positions may be sold at market prices, while assets that cannot be sold will be moved into the spot wallet.

Within Dual Investment, new subscriptions denominated in USDP will be disabled; unsettled subscriptions will be redeemed early and the assets and rewards should appear in spot wallets within roughly four hours after redemption.

Spot market delisting and related platform changes

On Sept. 24 at 03:00 UTC, Binance will end USDP spot trading and automatically cancel all outstanding orders. The exchange also said it will terminate trading-bot services tied to the affected pairs, advising bot operators to cancel or update strategies prior to the deadline to avoid incomplete transaction sequences. Small-balance conversion will remove USDP at 02:00 UTC on Sept. 23, while Binance Convert will stop supporting USDP at 02:00 UTC on Sept. 24. Gift Card support for USDP will also close when spot trading ends.

Wallet visibility, deposits and deposit-crediting deadlines

After spot trading stops, USDP balances may still be visible in user wallets, but Binance said the wallet interface will no longer display a valuation for the delisted token. Users may need to disable the 'Hide Small Assets' option to view residual balances. Deposits will stop being credited at 03:00 UTC on Sept. 25; transfers that reach a blockchain after that time may be recorded on-chain but remain uncredited by the exchange. Binance urged customers to verify destination addresses, supported networks and service deadlines before moving funds. Pax Dollar currently operates on blockchains including Ethereum and Solana, according to the issuer.

Paxos, USDP backing and redemption process

Paxos created USDP (formerly Paxos Standard) and states that the stablecoin is redeemable one-for-one for U.S. dollars. The issuer says reserves backing USDP are held in cash and cash equivalents and that customer assets are segregated from company funds in bankruptcy-remote accounts. Paxos provides attestations and reserve information via its transparency page; the page lists reports that include periods in 2026, but Paxos also notes it no longer proactively provides monthly USDP reserve reports.

Binance's delisting does not terminate USDP issuance nor prevent other platforms from supporting the token. Paxos continues to offer redemption directly to eligible customers who meet its account and compliance requirements.

Withdrawal deadline and potential forced conversion

Binance will permit USDP withdrawals until 03:00 UTC on Nov. 24, subject to network availability. That gives holders about two months after spot trading ends to transfer funds to self-custody wallets, other exchanges that support USDP, or to an eligible Paxos account. Users should confirm the destination supports the specific blockchain used for the transfer.

Beginning at 03:00 UTC on Nov. 25, Binance said it "may convert" any remaining USDP balances into another stablecoin if users have not withdrawn their funds. The exchange has not named the replacement asset and warned that conversion rates cannot be guaranteed. Binance also pledged to issue a further notice before executing any conversion, leaving the Nov. 24 withdrawal deadline as the confirmed action users must take to retain control of their tokens.

Context: market monitoring and prior Binance actions

The removal of USDP comes amid ongoing scrutiny and active management of asset listings across major crypto platforms. Earlier in September, Binance placed four tokens under enhanced monitoring and removed 14 tokens from its Alpha selection — actions that did not amount to full spot delistings but reflect the exchange's broader approach to liquidity and risk management. The USDP decision is wider in scope because it impacts spot trading, margin services, payments, loans, deposits and withdrawals on Binance.

What users should do now

• Plan to withdraw USDP by 03:00 UTC on Nov. 24 to avoid any potential forced conversion.
• Verify destination wallet and network compatibility before initiating transfers—USDP circulates on multiple chains such as Ethereum and Solana.
• Cancel or reconfigure automated trading bots and open orders tied to USDP pairs before Sept. 24.
• Review loan and margin positions that use USDP as collateral and assess liquidation risks ahead of service shutdowns on Sept. 16–17.
• Monitor official Binance announcements for any update on potential conversion or follow-up notices.