Binance has completed its token migration from Dai (DAI) to USDS, with users’ holdings converted at a 1:1 ratio. The move formalizes the platform’s transition away from the legacy DAI token and shifts related balances and trading infrastructure toward USDS.
New USDS spot markets go live
As of April 9 at 16:00 (UTC+8), Binance has opened spot trading for BTC/USDS, ETH/USDS, and USDS/USDT. The launch gives USDS direct access to two major crypto assets as well as a stablecoin-to-stablecoin market, expanding its utility inside Binance’s spot ecosystem.
Legacy DAI withdrawals discontinued
Alongside the token swap, Binance has also stopped withdrawal services for the old DAI tokens. This confirms that the exchange has moved beyond the migration phase and is no longer supporting outbound transfers tied to the previous token format.
From an operational standpoint, the update combines two key steps: completing the underlying asset conversion and quickly adding liquidity routes for the replacement token. By listing trading pairs against BTC, ETH, and USDT, Binance is making USDS more accessible for both trading and asset rotation on the platform. The announcement is primarily an infrastructure and market-availability update, centered on the completed swap, the launch of new spot pairs, and the retirement of old-token withdrawal support.