YEREVAN (CoinChapter.com) — Binance has integrated Tether’s USDT token on The Open Network (TON). As of June 21, users can now deposit and withdraw Tether (USDT) on TON.
“Binance has completed the integration of Tether (USDT) on the Toncoin Network. Deposits and withdrawals are now open,”
stated the official announcement.
Binance and TON Integration Announcement. Source: @TodayCryptoRj
This integration improves transaction speeds, reduces fees, and offers a cost-effective method for handling USDT transactions. Users should check their assigned token deposit addresses and the smart contract address on TON through links provided in Binance’s official announcement.
USDT on TON: Faster, Cheaper Transactions Ahead of EEA Regulations
The integration of USDT on TON offers several benefits for Binance users. Enhanced transaction speed allows users to move stablecoin liquidity onto the TON blockchain more efficiently. This fee reduction offers a cost-effective solution for handling USDT transactions, particularly beneficial for high-volume trading or transfers. Increased flexibility ensures secure and accurate processing of transactions by checking assigned token deposit addresses and the smart contract address on TON through Binance’s provided links.
Binance’s USDT integration on TON occurs before expected regulatory shifts in the European Economic Area (EEA). Changes under the Markets in Crypto-Assets Regulation (MiCA) will place certain restrictions on unauthorized stablecoins like USDT.
In response to these regulatory changes, the cryptocurrency exchange Uphold announced it would delist USDT and five other stablecoins by July 1. The other stablecoins include Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD).
Pavel Durov Unveils Plans to Tokenize Telegram with TON Blockchain
Telegram founder Pavel Durov announced plans to use the TON blockchain to tokenize stickers and emojis on the popular social media platform. Speaking at Token2049 in Dubai, Durov emphasized the importance of privacy and freedom, fundamental to blockchain technology.
Durov outlined his plans to build Telegram functionalities on The Open Network blockchain, including integrating USDT and offering ad revenue-sharing options.
