Top cryptocurrency exchange Binance announced on Friday that it will convert stablecoins to bitcoin over the next 30 days as part of its $1 billion emergency consumer protection fund.

The move targets the Secure Asset Fund for Users (SAFU), a security fund created to protect users from losses due to unforeseen events like hacks. The exchange plans to gradually replace Stablecon Holdings within 30 days, and conduct regular audits.

It added that if the fund’s value in bitcoin prices falls below $800 million, the exchange will take it to $1 billion.

“This move is part of Binance’s long-term industry-building efforts, and we will continue to push related work forward, gradually sharing more progress with the community,” a translated version of the exchange’s post on X said. said.

By 2025, the exchange’s Proof of Reserves report states that users will hold approximately $163 billion in crypto tokens on the platform.

Stablecoins are digital tokens whose values ​​are pegged to an external reference such as the US dollar. Bitcoin is the most important cryptocurrency in the world with a market value of more than 1.6 trillion.