Binance to Delist Pax Dollar USDP After Listing Review
Binance will delist Pax Dollar (USDP), ending spot trading for all USDP pairs on September 24, 2026, at 03:00 UTC after the exchange determined that the stablecoin no longer met its listing standards.
The decision follows Binance's periodic review of listed assets. According to Binance, Once trading ends, the exchange will automatically cancel all outstanding spot orders for the affected USDP pairs.
Binance did not point to a specific violation, incident or isolated event behind the decision. Instead, its review process evaluates a range of factors, including trading activity and liquidity, development progress, network security, project transparency, tokenomics, legal and regulatory compliance, and community sentiment.
USDP is a dollar-pegged stablecoin issued by Paxos, a regulated blockchain and financial infrastructure company. The token has positioned itself as a regulated alternative in the stablecoin market, where Tether's USDT and Circle's USDC remain among the dominant assets.
The Binance delisting therefore represents an exchange-level assessment of USDP rather than confirmation that the token has lost its dollar backing. Paxos has not announced plans to discontinue USDP or end its established redemption arrangements.
Binance Sets Multiple USDP Delisting Deadlines
The removal of USDP will take place across Binance's services on different dates, meaning holders will face several separate deadlines.
Binance Margin will stop accepting USDP as eligible collateral on September 11 at 06:00 UTC. Users with margin positions involving the stablecoin should review their accounts ahead of the deadline and manage affected balances accordingly.
Support for USDP through Simple Earn will end on September 17. Any remaining positions will be automatically redeemed and transferred to users' Spot Accounts.
The spot market delisting will follow on September 24 at 03:00 UTC, when all USDP trading pairs will cease trading. Binance will also stop crediting USDP deposits on September 25 at 03:00 UTC.
Deposits made after that cutoff may not be credited to customer accounts. Binance will continue to allow standard USDP withdrawals until November 24 at 03:00 UTC, giving holders additional time to move their funds.
From November 25, Binance may convert remaining USDP balances into other stablecoins. However, the exchange has not guaranteed that such a conversion will occur. If conversion is unavailable, withdrawal access may remain subject to network conditions and technical availability.
USDP Delisting May Reduce Market Access
The loss of Binance support could make USDP less accessible to traders because major exchanges contribute significantly to liquidity, trading access and conversion options for digital assets.
For USDP, reduced availability on a major platform could shift some trading activity toward larger stablecoins such as USDT and USDC. However, the Binance decision by itself does not demonstrate that Paxos lacks reserves or that USDP has failed to maintain its intended dollar peg.
The different service deadlines make the schedule particularly important for Binance users holding USDP. Margin collateral support ends first, followed by Simple Earn, spot trading and deposits, while withdrawals remain available for a substantially longer period.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.