For Paxos Customers
- Paxos no longer mints new BUSD, but allows customers to redeem BUSD for USD
Can I still withdraw BUSD from the Paxos platform?
- As of February 21, 2023, Paxos no longer supports withdrawals of BUSD from our platform. Learn more.
- Paxos no longer mints new BUSD, but allows customers to redeem BUSD for USD (ERC-20)
What will happen to my existing BUSD withdrawal request?
- As of February 21, 2023 all pending BUSD withdrawal requests have been automatically canceled. If your pending BUSD withdrawal request is canceled, your account will be credited with US dollars which can be withdrawn as fiat or Pax Dollar (USDP).
Is the BUSD I hold in my metamask or other ERC-20 wallet still backed by USD?
- All ERC-20 issued BUSD is back 1:1 by USD. Even if your BUSD is held in self custody or in an external wallet (i.e. off the Paxos platform) your ERC-20 BUSD is still backed by USD. Please deposit this BUSD into your Paxos account and redeem it for USD.
What happens if I sold my BUSD on Binance or other exchanges for below 1 dollar?
- Paxos is not responsible for actions taken on another exchange.