Binance will delist Pax Dollar (USDP) from spot trading at 03:00 UTC on Sept. 24, with the decision also affecting margin trading, lending, payments, Earn, copy trading, deposits and several other services.
The exchange announced on Sept. 10 that all USDP spot markets would close at that time, while outstanding orders would be cancelled automatically. USDP withdrawals will remain available until 03:00 UTC on Nov. 24, giving customers approximately two months to move their funds.
Binance said it periodically reviews digital assets using criteria including trading volume, liquidity, network security, project development, public communication, changes to token supply and regulatory requirements. It did not identify a specific event behind the decision, and did not say USDP had lost its dollar backing or that redemptions had stopped.
The first changes begin at 03:00 UTC on Sept. 11, when Binance One-Click Buy and Sell removes USDP and its related pairs. Isolated and cross-margin lending for the stablecoin will end at 06:00 UTC the same day.
Binance Pay and Binance Pool will stop supporting USDP at 03:00 UTC on Sept. 16. Binance Pool will settle final earnings the following day. Flexible-rate lending and VIP Loan will remove USDP as a borrowing and collateral asset at 07:00 UTC, while USDP margin trading will end at 10:00 UTC.
At that point, pending orders will be cancelled, isolated-margin positions settled and related pairs removed. Binance warned that outstanding lending positions could be closed and liquidated automatically, and that users might temporarily be unable to update some positions.
Services close ahead of spot trading
Binance Earn will remove USDP at 07:00 UTC on Sept. 17. Remaining flexible and fixed-term holdings will be redeemed automatically, with principal and accumulated rewards transferred to spot wallets.
Spot copy trading will remove USDP pairs at 03:00 UTC that day. Assets may be sold at market prices, while those that cannot be sold will be transferred to users’ spot accounts. Dual Investment will also stop accepting new USDP subscriptions, and unsettled subscriptions will be redeemed early, with assets and rewards expected in spot wallets within four hours.
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, while Gift Card support will close alongside the spot market. Trading-bot services linked to the affected pairs will also be terminated.
Binance advised users to cancel or amend bot strategies before the deadline, as a bot could stop without completing its intended sequence. Balances may remain in wallets after trading ends, although the interface will no longer show a valuation. Users may need to turn off “Hide Small Assets” to see them.
Deposits will stop being credited at 03:00 UTC on Sept. 25. Binance said transfers arriving after that time could remain uncredited even when recorded successfully on the blockchain. USDP currently operates on Ethereum and Solana, according to Paxos.
Paxos launched the stablecoin as Paxos Standard before renaming it Pax Dollar. It says USDP remains backed by cash and cash equivalents and redeemable one-to-one for the US dollar. Customer assets are segregated from company funds in bankruptcy-remote accounts, and issuance is subject to oversight by the U.S. Office of the Comptroller of the Currency.
Paxos’ transparency page lists attestations covering periods in 2026, although it says the company no longer proactively publishes monthly USDP reserve reports. No Paxos announcement says redemptions will end because of Binance’s decision, but direct redemption remains subject to eligibility, account and compliance requirements.
Users can withdraw USDP to a compatible self-custody wallet, another supporting exchange or an eligible Paxos account. Binance said it “may convert” balances left on the platform into another stablecoin from 03:00 UTC on Nov. 25, without guaranteeing the exchange rate. It has not named a replacement asset and will issue another announcement if it proceeds.
The earlier removal of 14 tokens from Binance Alpha and the placing of four tokens under enhanced monitoring on Sept. 4 were not full spot delistings. The USDP action is broader, covering spot trading, margin, payments, loans, deposits and withdrawals.
