Binance to exchange New Bitshares (NBS) tokens for USDT
Binance to exchange New Bitshares (NBS) tokens for USDT
Binance, the world's largest cryptocurrency exchange, announced that it will convert delisted New Bitshares (NBS) tokens held by its users.
The tokens to be converted are the NBS tokens held in Binance users' wallets at the time of the snapshot on September 9 at 00:00 UTC.
"Binance will then replace all New Bitshares (NBS) token balances in users' Binance wallets with an equivalent amount of USD by 23:29 UTC time on December 8, 2023," the exchange said on its official website.
After the snapshot, Binance will work hard to replace the remaining NBS token balances with an equivalent amount of USDT (Tether) by 23:59 UTC on December 8, 2023.
The conversion will be based on the average NBS/USDT exchange rate between September 9 and December 8, 2023, ensuring that the exchange rate is accurate for the benefit of users.
The exchange will also provide users with information on the average NBS/USDT exchange rate throughout the conversion period.
In addition, Binance reminds users that NBS token withdrawals will be supported until 09:00 UTC on September 9, 2023. After the deadline, NBS token withdrawals will no longer be supported, and users will not be able to transfer any remaining NBS tokens from their accounts to external wallets.
The NBS token conversion initiative underscores Binance's commitment to providing its clients with an easier process to adapt to the ever-evolving world of cryptocurrencies.
Also read: Coinbase to close access to trading of certain stablecoins in Canada.
