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OKX Declares Delisting of Gemini-backed Stablecoin GUSD

Published 01/31/2023, 03:15 PM
Updated 01/31/2023, 03:30 PM
OKX Declares Delisting of Gemini-backed Stablecoin GUSD

  • OKX has declared to delist the GUSD.

  • GUSD flash exchange services would proceed offline at 16:00 (UTC+8) on 1 Feb.

  • The GUSD flash exchange services would no longer be backed up by flash swaps.

Seychelles-based cryptocurrency and derivatives exchange OKX declared the official delisting of the U.S-backed stablecoin Gemini Dollar (GUSD). Reportedly, the digital asset trading platform Ouyi would exclude the GUSD flash exchange services on February 1, 2023, precisely at 16:00 (UTC+8).

According to the Ouyi Platform, the risk control department of Ouyi recently conducted online projects on the platform based on the “Ouyi Rules on Hiding TOKEN and Offline Trading Pairs” to maintain “a healthy digital asset environment in the blockchain industry,” to “optimize the liquidity of projects” and to dispense users with a “good trading experience”.

After the Ouyi Platform’s official announcement went public, Wu blockchain mentioned that the GUSD asset exchange would no longer be backed by flash swaps.

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