Binance announced on Sept. 10 that it will delist Pax Dollar, or USDP, from spot trading at 03:00 UTC on Sept. 24, beginning a phased removal that will affect deposits, withdrawals, margin positions and several other exchange services.
Summary
- Binance will end USDP spot trading and automatically cancel all pending orders on September 24.
- USDP withdrawals remain available until November 24, giving holders two months after spot trading ends.
- Binance may convert remaining USDP into another stablecoin after November 25 without guaranteeing exchange rates.
- Paxos says USDP remains backed by cash and cash equivalents with one-to-one dollar redemption available.
- Margin, lending, payments, mining, Earn, conversion, and copy-trading support will end on separate schedules earlier.
Binance said in its official announcement that it periodically reviews listed digital assets. Its criteria include trading volume, liquidity, network security, project development, public communication, token supply changes and regulatory requirements.
The exchange did not identify one specific event behind the USDP delisting. It also did not claim that the stablecoin had lost its dollar backing or stopped processing redemptions. The decision applies to Binance services rather than the wider operation of USDP.
The first restriction begins at 03:00 UTC on Sept. 11, when Binance One-Click Buy and Sell removes the stablecoin and its related trading pairs. Isolated and cross-margin lending for USDP will stop at 06:00 UTC on the same day.
Binance Pay and Binance Pool will end USDP support at 03:00 UTC on Sept. 16. The mining-pool service will settle final earnings the following day. Users have been advised to stop using the affected service before support ends.
Flexible-rate lending and VIP Loan services will remove USDP as a borrowing and collateral asset at 07:00 UTC on Sept. 16. Binance warned that outstanding orders involving the stablecoin could be closed and liquidated automatically.
USDP margin trading will end at 10:00 UTC that day. Binance will cancel pending orders, settle isolated-margin positions and remove the related pairs. Users may temporarily lose the ability to update affected positions while the process is underway.
Earn and copy-trading services close before September 24
Binance Earn will remove USDP at 07:00 UTC on Sept. 17. Flexible and fixed-term holdings that remain in the service will be redeemed automatically. Principal and accumulated rewards will then move into users’ spot wallets.
Spot copy trading will remove USDP pairs earlier that day at 03:00 UTC. Outstanding assets may be sold at market prices. Assets that cannot be sold will instead be transferred into the user’s spot account.
The exchange is also ending support within Dual Investment. New subscriptions involving USDP will become unavailable, while unsettled subscriptions will be redeemed early. Binance said the relevant assets and rewards should reach users’ spot wallets within four hours after redemption.
The removal comes during continued scrutiny of assets available through Binance products. As crypto.news reported, Binance placed four tokens under enhanced monitoring on Sept. 4 while removing 14 others from its Alpha selection.
Those earlier Alpha removals did not constitute full spot delistings. The USDP decision is broader because it includes spot trading, margin services, payments, loans, deposits and withdrawals.
Binance will delist USDP on 2026-09-24
👉 https://t.co/tMTyZe0Pez pic.twitter.com/MTVVF2bnE6
— Binance (@binance) September 10, 2026
Binance will end USDP spot trading on September 24
Binance will remove USDP spot trading at 03:00 UTC on Sept. 24. The exchange will cancel every outstanding order automatically and terminate trading-bot services connected to the affected pairs.
Users operating bots have been advised to cancel or update their strategies before the deadline. A bot could otherwise stop without completing the intended transaction sequence.
The small-balance conversion service will remove USDP at 02:00 UTC on Sept. 23. Binance Convert will follow at 02:00 UTC on Sept. 24, one hour before spot trading ends. Gift Card support closes alongside the spot market.
USDP balances can remain in user wallets after trading stops. However, Binance said the wallet interface will no longer display a valuation for the delisted asset. Users may need to disable the “Hide Small Assets” setting to view their remaining balances.
Deposits will stop being credited at 03:00 UTC on Sept. 25. A transfer arriving after that deadline could therefore remain uncredited even if the blockchain records it successfully.
The exchange advised customers to check the destination address, supported network and service deadline before moving funds. USDP currently operates on Ethereum and Solana, according to the issuer.
Paxos continues offering USDP redemption
Paxos introduced the stablecoin as Paxos Standard before renaming it Pax Dollar. Binance’s delisting does not terminate USDP or prevent supported platforms from continuing to offer the asset.
According to the official USDP page, its issuance is subject to oversight by the U.S. Office of the Comptroller of the Currency. Paxos says every token remains redeemable for one U.S. dollar.
The issuer says reserves are held entirely in cash and cash equivalents. It also states that customer assets are segregated from company funds and maintained in bankruptcy-remote accounts. Paxos provides reserve information through its transparency page. Reports listed there include attestations covering periods in 2026. However, the page also says Paxos no longer proactively provides monthly USDP reserve reports.
However, no announcement from Paxos indicates that redemptions will end because of the Binance decision. Holders seeking direct redemption must still meet Paxos eligibility, account and compliance requirements.
Withdrawals remain open until November 24
Binance will continue processing USDP withdrawals until 03:00 UTC on Nov. 24, subject to network availability. This gives users approximately two months after spot trading closes to remove remaining balances.
Holders may send USDP to a compatible self-custody wallet, another supporting exchange or an eligible Paxos account. They should confirm that the destination supports the selected blockchain before initiating a transfer.
Binance said it “may convert” USDP balances remaining on the platform into another stablecoin beginning at 03:00 UTC on Nov. 25. The exchange has not named the possible replacement asset. The company also warned that it cannot guarantee the conversion rate. It promised another announcement before any conversion begins, if it chooses to proceed.
The confirmed action for users is therefore the Nov. 24 withdrawal deadline. The possible conversion remains conditional until Binance publishes its promised follow-up notice.
