Binance to end support for USDC stablecoin on Tron blockchain network
Binance said on Monday customers would no longer be able to deposit and withdraw the dollar-pegged stablecoin USDC using the Tron blockchain network.
Stablecoins are digital tokens that are designed to keep a constant value and are backed by traditional currencies. A stablecoin can be based on various different blockchains.
Last month, Boston-based crypto firm Circle said it would no longer create its USDC tokens on the Tron blockchain, a decision it said «aligned with its efforts to ensure that USDC remained trusted, transparent and safe».
Binance said it would end support for the stablecoin via the Tron blockchain from April 5 at 0200 GMT.
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View Details» Users can continue trading USDC on Binance, while deposits and withdrawals of USDC via other supported networks will not be impacted, Binance said in a blog post.
Tron did not immediately respond to a Reuters request for comment.
Tron founder Justin Sun, a prominent crypto entrepreneur, was sued last year by the U.S. Securities and Exchange Commission for allegedly artificially inflating
