Binance announced on Monday its decision to discontinue support for deposits and withdrawals through the Tron blockchain network for a digital stablecoin pegged to the U.S. dollar.
This move follows Boston-based crypto firm Circle’s recent decision to cease minting USDC tokens on Tron, a platform commonly utilized for stablecoin transfers.
Stablecoins are digital assets engineered to maintain a steady value and are backed by fiat currencies. Despite the change, users can still trade USDC on Binance, and the availability of deposits and withdrawals via other supported networks remains unaffected.
This adjustment comes amidst ongoing developments in the cryptocurrency space, reflecting shifts in the utilization of blockchain networks and stablecoin infrastructure.
