Binance crypto exchange resumes USDC stablecoin withdrawals on its platform

Binance, the world’s largest cryptocurrency exchange, has resumed USDC stablecoin withdrawals on its platform.

This follows a “temporary pause” on Tuesday while the exchange carried out a “token swap” that required New York banks to be open in order to allow BUSD to fiat and USDC conversion.

On Tuesday, Binance saw at least $5.2 billion worth of stablecoin outflows, its highest ever recorded by on-chain data analytics firm CryptoQuant.

Binance’s BNB cryptocurrency fell 2% in the past 24 hours, trading at $270.46 as of 1:40 a.m. in Hong Kong.