When Will PAXG/USD1 Cross Margin Trading Begin?

According to Binance’s official schedule, the PAXG/USD1 trading pair will be listed on the Binance Margin platform under Cross Margin starting February 10, 2026, at 08:30 AM. With this listing, users will be able to trade PAXG on the margin market using a more flexible collateral structure. Thanks to Cross Margin support, investors can use multiple assets as shared collateral, enabling more efficient position management and offering greater flexibility in risk management.

PAXG stands out as a digital asset backed one-to-one by physical gold, with each token representing gold that meets London Bullion Market Association (LBMA) standards. This structure positions PAXG as a “digital gold” alternative, particularly during periods of heightened volatility. By adding the PAXG/USD1 pair to both spot and margin markets, Binance may further increase the asset’s liquidity and expand its range of use cases.

What Is PAX Gold (PAXG)?

PAX Gold (PAXG) is a blockchain-based digital asset, where each token is fully backed by real, physical gold. The project is issued by Paxos Trust Company, a U.S.-based and regulated financial infrastructure firm. PAXG’s core value proposition is to combine direct ownership of gold with the portability, transparency, and liquidity advantages offered by crypto assets.

Each 1 PAXG token represents one troy ounce of physical gold in the form of London Good Delivery bars that meet LBMA standards. These gold bars are stored in professional vaults in London and are matched one-to-one with tokens on-chain. In this respect, PAXG is not a synthetic product that merely tracks the price of gold; rather, it digitizes actual gold ownership. Especially during uncertain macroeconomic periods, when demand for gold shifts toward digital channels, PAXG occupies a strategic position.

What It Means for the Market and Investors

According to experts, this listing provides investors with an opportunity to diversify and hedge their crypto portfolios with a gold-based asset. The addition of Cross Margin support may enable more effective risk management in margin markets, while pairing PAXG with USD1 introduces an additional pricing alternative. This development is also viewed as a move that could facilitate easier access to gold-backed tokens for institutional investors. Binance’s listing of the PAXG/USD1 trading pair on both spot and margin markets stands out as a strategic step that supports the broader adoption of gold-backed crypto assets. Particularly during times of rising demand for safe-haven instruments, PAXG continues to serve as a bridge between traditional assets and the crypto ecosystem.

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Until March 31, Tokens Can Be Converted

Crypto.com will stop trading USDT and nine other tokens as of January 31. However, users will have until March 31, 2025 to withdraw or convert these tokens into MiCA-compliant assets. Any tokens not converted after this date will be automatically converted by the exchange into MiCA-compliant stablecoins or assets equivalent in value.

Crypto.com’s representative stated that this process is an important step to protect users and ensure full compliance with the regulatory framework.

Which Tokens Will Be Delisted?

Among the tokens that Crypto.com will delist are the following:

• Tether (USDT)
• Wrapped Bitcoin (WBTC)
• Dai (DAI)
• Pax Dollar (PAX)
• Pax Gold (PAXG)
• PayPal USD (PYUSD)
• Crypto.com Staked ETH (CDCETH)
• Crypto.com Staked SOL (CDCSOL)
• Liquid CRO (LCRO)
• XSGD (XSGD)

These tokens are being delisted in line with the European Securities and Markets Authority’s (ESMA) announcement to limit non-MiCA-compliant stablecoins as of January 31, 2025.

Expanding Delist Trend for Tether (USDT)

Crypto.com’s delisting of USDT is one of the latest developments in the process of European exchanges and service providers adapting to MiCA regulations. Coinbase had delisted USDT in October 2024 on the grounds that it was not MiCA-compliant . Coinbase had given its customers the option to convert their USDT into MiCA-compliant stablecoins, specifically Circle’s USDC.

With MiCA in full effect, many crypto asset service providers in Europe have obtained or are working to obtain MiCA licenses. Crypto.com is also in the process of obtaining a license in Malta.

The Competition Between USDT and Its Rivals

USDT is the largest stablecoin in the market with a market capitalization of $139 billion. However, its rival USDC, which benefits from MiCA compliance, is currently in second place with a market capitalization of $52 billion. Circle’s USDC was approved as MiCA-compliant in July 2024, enabling the USDC to gain acceptance in the European market.

Impact of MiCA Regulations on the Industry

MiCA regulations aim to make the operations of crypto asset service providers more transparent and compliant. However, the fact that the market’s largest stablecoins, especially USDT, are not covered by MiCA may affect investors’ preferences. After March 31, USDT is expected to be completely abolished in Europe, and the impact of this on the market is a matter of curiosity.

Crypto.com’s move is seen as an important milestone on the road to compliance with MiCA regulations. However, these changes could reshape the dynamics of the cryptocurrency market.

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In recent days, the impact of stablecoins on Bitcoin has continued to be a topic of discussion in the cryptocurrency world. Ki Young Ju, CEO of the renowned crypto analysis platform CryptoQuant, stated that the supply of stablecoins alone will not be enough to drive the Bitcoin markets.

Purpose of Stablecoin Use

Stablecoins have increasingly become a tool for storing value not only in countries with rapidly depreciating fiat currencies but also in those with stringent capital controls. This situation is changing the role of stablecoins in the market and prompting investors to turn to these assets. However, according to Ki Young Ju, the increase in the supply of stablecoins will not have a significant impact on Bitcoin prices.

Market Stagnation

Ki Young Ju argues that while the liquidity provided by stablecoins can be used for trading Bitcoin, it will not positively impact Bitcoin prices. The overall stagnation and uncertainties in the markets are making it difficult for investors to turn to volatile assets like Bitcoin. Therefore, the increase in supply is insufficient to stimulate a revival in the markets.

You Might Be Interested In: BitGo Appoints Former President to Oversee Stablecoin Business

Conclusion

In conclusion, the supply of stablecoins may not be sufficient on its own to drive the Bitcoin markets. Cryptocurrency investors continue to adopt a more cautious approach, taking into account the overall market conditions and uncertainties.

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Check Out: Today’s Most Popular Altcoins in the Crypto Market – Gainers and Losers

This change includes 10 different cryptocurrencies such as Apecoin (APE), ARPA (ARPA), Beta Finance (BETA), Convex Finance (CVX), Ethereum Name Services (ENS), Eos (EOS), Ethereum Classic (ETC), Kava (KAVA), and Pax Gold (PAXG).

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According to Binance’s announcement, trading pairs APE/BNB, APE/EUR, ARPA/ETH, BETA/ETH, CVX/BTC, ENS/BNB, EOS/EUR, ETC/EUR, KAVA/BNB, and PAXG/BNB will be removed from spot trading and trading will be halted on December 29 at 05:00 (Turkey time). It was also mentioned that with this change, trading bots related to the same trading pairs will be shut down.

However, Binance stated that users can continue to trade on the platform using other trading pairs available for these assets. This means that users can maintain flexibility in managing their portfolios and making trades. The cryptocurrency market is constantly changing, and exchanges may make changes to their portfolios from time to time to provide the best service to users.

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