Top cryptocurrency exchange Binance announced Friday that it will switch the stablecoin in its $1 billion emergency fund to bitcoin over the next 30 days.
The move targets the Secure asset Fund for Users (SAFU), which is a security fund created to protect users from losses due to unforeseen events such as hacks. The exchange plans to gradually convert the stablecoin holdings within 30 days and commit to regular audits.
It added that if bitcoin’s price swings drop the fund’s value below $800 million, the exchange will top it back to $1 billion.
“This initiative is part of Binance’s long-term industry-building efforts, and we will continue to promote related work and gradually share more progress with the community,” said the translated version of the exchange’s post on X.
As of 2025, the exchange’s proof-of-reserve report showed that users held about $163 billion in crypto tokens on the platform.
Stablecoins are digital tokens with values tied to an external reference such as the US dollar. Bitcoin is the world’s leading cryptocurrency with a market capitalization of over $1.6 trillion.
