Binance has officially declared that it has effectively integrated the Tether USDT token on The Open Network (TON).
As per an official announcement by Binance, starting from June 21, users have the ability to deposit and withdraw Tether (USDT) on TON.
The integration provides Binance users with increased flexibility in transferring stablecoin liquidity onto the TON blockchain. This move is anticipated to enhance transaction speeds, decrease fees, and provide a cost-efficient approach to handling USDT transactions.
Users are advised to verify their designated token deposit addresses and the smart contract address on TON through the links provided in Binance’s official announcement.
Furthermore, Binance’s integration of USDT on TON comes ahead of an anticipated regulatory change in the European Economic Area (EEA). These changes are expected to impose specific limitations on unauthorized stablecoins, such as USDT, under the Markets in Crypto-Assets Regulation (MiCA). In light of this, Binance has encouraged users to remain informed about these changes to ensure compliance and to avoid potential disruptions to crypto activities.
Additionally, the cryptocurrency exchange Uphold recently announced its decision to delist USDT and five other stablecoins by July 1 due to the European Union’s MiCA regulations. The other five stablecoins affected by this decision include Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD).
In related news, Telegram founder Pavel Durov has unveiled plans to leverage the TON blockchain to tokenize stickers and emojis on the popular social media platform. During his address at Token2049 in Dubai, Durov highlighted the significance of privacy and freedom, both of which are fundamental to blockchain technology. He also outlined his aspirations to incorporate Telegram functionalities on The Open Network blockchain, including the integration of USDT and ad revenue-sharing options.