Binance, a prominent cryptocurrency exchange, has made an exciting announcement regarding the integration of Tether’s USDT token on The Open Network (TON). This integration allows Binance users to easily deposit and withdraw USDT on TON starting from June 21. The move aims to enhance flexibility in transferring stablecoin liquidity onto the TON blockchain, leading to improved transaction speeds, reduced fees, and a more cost-effective approach to USDT transactions. To ensure a smooth process, users are advised to check their designated token deposit addresses and the smart contract address on TON, which can be found in Binance’s official announcement.
This integration comes at a significant time, as the European Economic Area (EEA) is expected to implement regulatory changes that will impose restrictions on unauthorized stablecoins like USDT under the Markets in Crypto-Assets Regulation (MiCA). Binance urges users to stay informed about these changes to comply with regulations and prevent any disruptions in their crypto activities. Uphold, another cryptocurrency exchange, has already announced its decision to delist USDT and five other stablecoins by July 1 due to the MiCA regulations set by the European Union. The other stablecoins affected include Dai, Frax Protocol, Gemini dollar, Pax dollar, and TrueUSD.
In addition to Binance’s USDT integration, Telegram founder Pavel Durov has revealed plans to utilize the TON blockchain for tokenizing stickers and emojis on the popular social media platform. Durov emphasized the importance of privacy and freedom, which are fundamental principles of blockchain technology, during his speech at Token2049 in Dubai. He expressed ambitions to incorporate Telegram functionalities on The Open Network blockchain, including the integration of USDT and options for revenue-sharing through advertisements.
In other news, rumors about cryptocurrencies have sparked panic in Korea, and Binance has conducted airdrops for BNB hodlers in Asia.