Binance will stop supporting USDC stablecoin on the TRON network
According to representatives of the exchange, the new rules will not affect transfers to USDC in other networks. Clients will be able to withdraw funds or exchange them for other cryptocurrencies. After April 5, USDC deposits made through the TRON network will no longer be credited.
Circle previously announced that it would stop issuing USDC on the TRON blockchain starting in February 2024. This step is aimed at ensuring the reliability and transparency of the asset. Institutional clients of the Circle Mint program will be able to withdraw stablecoins to another network until February 2025.
Some other exchanges have also introduced restrictions on USDC deposits and withdrawals into TRON. In particular, the Kraken platform allows stablecoins to be deposited through this network, but not withdrawn.
According to the DeFiLlama portal, the majority of USDC stablecoins are located on the Ethereum network - 81.98%. TRON ranks fifth with a share of 1.17%.
DeFiLlama previously reported that the amount of funds from Binance users has increased since the beginning of the year by more than $40 billion and reached $115 billion.
