Binance, the largest cryptocurrency exchange, announced that it will discontinue support for deposits and withdrawals for the USDC stablecoin on the Tron blockchain on April 5.
In a statement released on March 25, Binance warned users that deposits of USDC tokens via TRC20 will no longer be credited to users’ accounts after 04/05/2024 at 02:00 (UTC).
“Following the discontinuation of Circle USDC support on the Tron (TRC20) network, Binance will discontinue support for USDC deposits and withdrawals via TRC20 starting 04/05/2024 02:00 (UTC),” the exchange stated in its official statement.
Binance reported that users can continue trading USDC on Binance. Furthermore, in the statement, the platform highlighted that USDC deposits and withdrawals through other supported networks will not be affected.
Following Circle’s discontinuation of USDC support on the Tron network (TRC20), Binance will cease support for USDC deposits and withdrawals via TRC20 starting from 5 April 2024, 02:00 am UTC.
Users may continue trading USDC on Binance. Deposits and withdrawals of USDC via other…
— Binance (@binance) March 25, 2024
It is worth remembering that Binance’s action follows a measure also taken by Circle in February.
Circle stops support for USDC on TRON
Circle, issuer of the USD Coin (USDC) stablecoin, announced on February 21 that it will end support for the token on the Tron blockchain. In its official announcement, the broadcaster stated that it is discontinuing support for USDC on TRON in a phased transition. According to the company, the measure takes effect immediately.
“Effective immediately, we will no longer mint USDC on TRON. Circle will support Circle Mint customers’ transfer(s) of USDC to other blockchains until February 2025. As Circle only serves enterprise and institutional customers, retail users and other non-Circle customers can move their USDC on TRON to an exchange or distributor where it can be transferred to another blockchain where USDC is supported.
By February 2025, Circle Mint customers will be able to transfer USDC to other blockchains or redeem USDC into TRON for fiat currency directly with Circle, according to the statement.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/binance-anuncia-que-descontinuara-suporte-para-stablecoin-usdc-na-blockchain-tron/
