Polymarket Launches pUSD and CLOB V2 in Major Exchange Upgrade Scheduled for April 28

TLDR: Polymarket will go offline for roughly one hour on April 28 at 11 a.m. UTC for exchange upgrades. The new pUSD stablecoin is backed 1:1 by USDC and will replace direct USDC use across the platform. All open limit orders on the v1 orderbook will be cancelled at cutover, requiring users to re-place them. API developers must update to the latest Polymarket SDK before cutover, as v1 clients will stop working. Polymarket is set to roll out a sweeping infrastructure upgrade on April 28, introducing its native stablecoin pUSD and a revamped order-matching engine. The exchange will go offline for roughly one hour starting at 11 a.m. UTC. All open limit orders placed on the v1 orderbook will be cancelled at cutover. User funds and existing positions, however, will remain fully intact throughout the transition period. pUSD Launch Marks a New Chapter for Polymarket On April 27, Polymarket Developers posted on X that exchange upgrades go live on April 28 at 11 a.m. UTC. The announcement confirmed roughly one hour of downtime, with the v1 orderbook cleared and all open limit orders cancelled. Funds and existing positions were noted as safe throughout the process. Exchange upgrades go live on April 28 at 11am UTC. ~1 hour of downtime. The v1 orderbook gets cleared and all open limit orders are cancelled. Funds and positions are safe. Trading via API? Update to the latest SDK before then. V1 clients stop working after cutover. Dev… pic.twitter.com/ZLeCahjEBu — Polymarket Developers (@PolymarketDevs) April 26, 2026 Polymarket’s new stablecoin, pUSD, will be backed 1:1 by USDC, keeping it pegged at par with the dollar. The token is designed to serve as the native settlement currency across the platform going forward. Users holding USDC balances will need to approve a conversion to pUSD before the upgrade completes. The shift to a native stablecoin is part of a broader effort to tighten Polymarket’s internal liquidity framework. By anchoring pUSD to USDC reserves, the platfo...