Binance to end support for USDC stablecoin on Tron blockchain network

Binance to end support for USDC stablecoin on Tron blockchain network

March 25, 2024 / Riah Marton /


CRYPTOCURRENCY exchange Binance said on Monday (Mar 25) it will end support for deposits and withdrawals via the Tron blockchain network for a digital stablecoin that is pegged to the US dollar.

Last month, Boston-based crypto firm Circle said it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins.

Stablecoins are digital tokens that are designed to keep a constant value and are backed by traditional currencies.

Users can continue trading USDC on Binance, while deposits and withdrawals of USDC via other supported networks will not be impacted, the cryptocurrency exchange said in a blog post.

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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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