Binance, the world's leading cryptocurrency exchange, has revamped its Secure Asset Fund for Users (SAFU), a $1 billion emergency fund initially stored across multiple wallets.

As of April 18, Binance announced a complete conversion of SAFU's assets into Circle's USD Coin (USDC), constituting 3% of the stablecoin's total circulating supply.

This strategic move aims to bolster the fund's reliability and stability by leveraging a trusted and transparent stablecoin, according to Binance.

While the specific rationale behind choosing USDC over other stablecoins remains undisclosed, the decision underscores Binance's dedication to safeguarding user funds.

Established in 2018, SAFU acts as a protective measure against potential adversities like exchange hacks, ensuring users have a financial safety net in extreme circumstances.