Binance Integrates USDT on Toncoin Network for Transactions

Binance Integrates USDT on Toncoin Network for Transactions

Binance has integrated Tether (USDT) onto the Toncoin Network (TON), allowing users to deposit and withdraw USDT using this blockchain. This move is part of Binance's strategy to enhance its multi-chain capabilities, providing users with more flexibility and options for their transactions. The TON network is designed for high-speed and efficient blockchain transactions, utilizing sharding technology to handle millions of transactions per second.

The integration is expected to improve transaction speeds, reduce fees, and offer a cost-effective method for handling USDT transactions. This development could potentially increase the transaction volume and liquidity of USDT on the TON network. Binance users can now directly deposit USDT into their accounts through the TON network, resulting in faster transactions and lower fees compared to other networks.

This integration also comes at a time when regulatory shifts in the European Economic Area (EEA) could place unauthorized stablecoins under certain restrictions under the Markets in Crypto-Assets (MiCA) regulations. Binance has advised users to stay informed about these changes to avoid potential disruptions. The integration aligns with Binance's commitment to providing robust and reliable service delivery in the cryptocurrency market.

Summary

Other news in technology