Buy Crypto
Markets
Contract
Spot
Earn
Web3 new
Learn
Announcements > News > Notice Regarding the Removal of USD and Conversion of USD to USDT >

Notice Regarding the Removal of USD and Conversion of USD to USDT

Author: Silvia Date: 2024-05-21 08:02:37

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Discord
  • Youtube

Dear Traders,

Please be advised that Phemex has already delisted all USD contracts. We wish to inform you that, as a continuation of this process, Phemex will cease support for all USD products effective June 20, 2024.

Time Line:

  • Before May 24, 2024, at 10:00 UTC: users are encouraged to proactively transfer their USD balances from their contract accounts to their spot USD accounts. During this period, transfers from spot USD accounts to contract accounts will no longer be supported. 
  • On May 24 at 10:00 UTC: a mandatory system transfer will be executed, moving any remaining USD balances from contract accounts to spot accounts. 
  • Before June 20, 2024, at 10:00 UTC: users are encouraged to withdraw or convert their USD assets into other available assets on Phemex. Users may convert their USD balances to USDT on Phemex Convert at a 1:1 conversion rate with zero fees.
  • On June 20, 2024, at 10:00 UTC: USD products will be delisted from Phemex and any remaining USD balances in users’ Phemex accounts will be automatically converted to USDT at a 1:1 conversion rate. 

Please note that only USD linear contracts will be closed; coin-margined and USDT contracts will remain open for trading. For any inquiries contact us at support@phemex.zendesk.com.

Happy Trading,

The Phemex Team

Subscribe Phemex

Get The Latest News And Updates From Phemex!

Get The Latest News & Updates!

Bonus

Calling New Moderators & Earn Rewards Coming On-chain Soon