Binance Futures has introduced USDC support for BFUSD, enabling flexible transactions and daily rewards issued in USDC starting January 23.
Binance Futures has updated its BFUSD product, now allowing USDC to be used for buying the stablecoin in addition to USDT. Starting January 22, these changes will improve user experience and make trade easier on the Binance app and website.
Beginning January 23, all daily BFUSD awards will only be given in USDC, no matter if users buy BFUSD with USDT or USDC. Binance explained:
“From 2025-01-23 (UTC), BFUSD daily rewards, including Base and Boosted rewards, will be routinely issued in USDC. This applies to all BFUSD rewards, regardless of whether BFUSD was purchased with USDT or USDC.”
Pre-Buy and Pre-Redeem Options for Stablecoin Supply
To address potential shortages of BFUSD, USDT, or USDC, Binance has added Pre-Buy and Pre-Redeem options. The Pre-Buy tool lets users reserve BFUSD ahead of time by depositing USDT or USDC when there isn’t much left available. When BFUSD is restocked, users will get the amount they saved.
The Pre-Redeem tool allows users to deposit BFUSD to hold USDT or USDC when stablecoins are low in supply. Binance said:
“When there is not enough USDT or USDC available for redemption, users can click on [Pre-Redeem] and deposit BFUSD in advance to reserve USDT or USDC. When USDT or USDC supply is replenished, users who have deposited BFUSD in advance will receive their allocation.”
If there isn’t enough USDT or USDC to cash out, users can click on [Pre-Redeem] and pay BFUSD ahead of time to hold their USDT or USDC. When more USDT or USDC is available, users who have already paid BFUSD will get their share.
New Measures for Better Clarity
To improve transparency, Binance has added new data measures on the BFUSD page. These include historical charts showing total yearly percentage yield (APY) trends, BFUSD supply trends, and system collateralization trends.
You can find specific information about BFUSD’s support, including what it owns and its financial positions, to help users understand how stable it is.
BFUSD, launched in November, is made for Binance Futures users. It lets them make money by either holding or trading. Users have liked the changes, saying they make things work better and are clearer. BFUSD can only be used within Binance’s website and cannot be used anywhere else.
