Binance Integrates USDT on TON for Faster and Cheaper Transactions
Binance Integrates USDT Token on TON, Offering Faster and Cheaper Transactions Ahead of Regulatory Changes
YEREVAN (CoinChapter.com) — Binance has announced the integration of Tether’s USDT token on The Open Network (TON), providing users with the ability to deposit and withdraw USDT on TON as of June 21.
The official announcement stated, “Binance has completed the integration of Tether (USDT) on the Toncoin Network. Deposits and withdrawals are now open.”
This integration is expected to improve transaction speeds, reduce fees, and offer a cost-effective method for handling USDT transactions. Users are advised to check their assigned token deposit addresses and the smart contract address on TON through links provided in Binance’s official announcement.
The integration of USDT on TON offers several benefits for Binance users, including enhanced transaction speed, reduced fees, and increased flexibility for handling USDT transactions. This is particularly beneficial for high-volume trading or transfers.
This announcement comes ahead of expected regulatory changes in the European Economic Area (EEA), specifically under the Markets in Crypto-Assets Regulation (MiCA), which will place restrictions on unauthorized stablecoins like USDT.
In response to these regulatory changes, the cryptocurrency exchange Uphold has announced plans to delist USDT and five other stablecoins by July 1, including Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD).
Additionally, Telegram founder Pavel Durov has unveiled plans to tokenize stickers and emojis on the popular social media platform using the TON blockchain. Durov emphasized the importance of privacy and freedom, which are fundamental to blockchain technology, and outlined plans to integrate USDT and offer ad revenue-sharing options on the TON blockchain.
Overall, the integration of USDT on TON by Binance offers users faster and cheaper transactions, providing a more efficient and cost-effective solution for handling USDT transactions amidst upcoming regulatory changes in the EEA.