WhaleFin has always been committed to providing the best experience for our users. In the past, our mechanism for exchanging USDⓢ with stablecoins such as USDC, BUSD, USDP, and TUSD at a 1:1 ratio has helped our users improve the efficiency of their funds.
Based on market developments and to better protect customer assets, there is still room for improvement in the USDⓢ mechanism. Therefore, WhaleFin will upgrade USDⓢ as follows:
1. USDⓢ will be transformed into an accounting unit pegged to the US dollar at a 1:1 ratio within WhaleFin, and it will not be a digital asset (not a cryptocurrency);
2. BUSD, USDC, USDP and TUSD will be independent stablecoins that support separate deposits/withdrawals (the deposit address will not change);
3. Existing USDⓢ balances, earn products, and dual-currency investment products will be retained and settled in USDⓢ upon maturity;
4. We will provide trading pairs for BUSD, USDC, USDP, TUSD, USDT, and USDⓢ to facilitate the exchange between the stablecoins and USDⓢ.
Should you have any questions, please do not hesitate to contact your RM.