Future

Toncoin

Dubai

Binance has announced the successful integration of Tether’s USDT token&nbsp;on The Open Network (TON).
<a href="https://www.binance.com/en/support/announcement/binance-completes-integration-of-tether-usdt-on-toncoin-network-opens-deposits-and-withdrawals-f6c4867f5cab47e39864130804eff106" target="_blank" rel="noopener nofollow">According</a> to an official Binance announcement, as of June 21, users can now deposit and withdraw Tether (<a href="https://cointelegraph.com/tether-price-index">USDT</a>) on TON.
<blockquote data-ct-non-breakable="true">
 “Binance has completed the integration of Tether (USDT) on the Toncoin Network. Deposits and withdrawals are now open.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/ton-based-dex-aims-to-simplify-cross-chain-swaps-by-removing-bridging-and-wrapping">TON-based DEX aims to simplify cross-chain swaps by removing bridging and wrapping</a>
<h2 data-ct-non-breakable="true" id="what-you-need-to-know">What you need to know</h2>
The integration allows Binance users more flexibility in moving stablecoin liquidity onto the TON blockchain.
The move is expected to improve transaction speeds, reduce fees and offer a cost-effective method for handling USDT transactions.
Users are encouraged to check their assigned token deposit addresses and the smart contract address on TON through links provided in Binance’s official announcement.
Related: <a href="https://cointelegraph.com/news/telegram-ton-tokenizing-emojis-stickers-nfts">Telegram commits to TON blockchain, plans to support tokenized emojis and stickers NFTs</a>.
<h2 data-ct-non-breakable="true" id="future-compliance-implications">Future compliance implications&nbsp;</h2>
Binance’s USDT integration on TON comes before an expected regulatory shift in the European Economic Area (EEA).
The changes will place certain restrictions on unauthorized stablecoins, such as USDT, under the Markets in Crypto-Assets Regulation (MiCA).&nbsp;
In its announcement, Binance advised users to stay informed about the changes to ensure compliance and avoid potential disruptions to crypto activities.
The cryptocurrency exchange Uphold recently announced to users that it would be <a href="https://cointelegraph.com/news/uphold-delist-6-stablecoins-by-july-1-citing-mi-ca">delisting USDT and five other stablecoins</a> by July 1 due to the European Union’s MiCA regulations.
The other five stablecoins included Dai (<a href="https://cointelegraph.com/dai-price-index">DAI</a>), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP) and TrueUSD (TUSD).
Related: <a href="https://cointelegraph.com/news/nigeria-usa-money-laundering-case-binance-executive-gambaryan">Binance exec legal battle escalates amid US-Nigeria tug of war</a>
<h2 data-ct-non-breakable="true" id="telegram-commitment-to-ton-blockchain">Telegram commitment to TON blockchain</h2>
In recent news, Telegram founder Pavel Durov announced plans to utilize the TON blockchain to tokenize stickers and emojis on the popular social media platform.
During his speech at Token2049 in Dubai, Durov emphasized the importance of privacy and freedom, which are core to the fundamentals of blockchain technology.
Durov outlined ambitions to build Telegram functionalities on The Open Network blockchain, including integrating USDT and ad revenue-sharing options.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-rumors-spark-panic-in-korea-binance-airdrops-for-bnb-hodlers-asia-express/">Crypto rumors spark panic in Korea, Binance airdrops for BNB hodlers: Asia Express</a>

Binance integrates USDT on TON, opens transactions

Зміст

Cointelegraph

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