Binance Integrates Tether (USDT) on The Open Network (TON) Ahead of EEA Regulations

Binance has completed the integration of Tether (USDT) on the Toncoin Network. Deposits and withdrawals are now open.

Cryptocurrency exchange Binance has announced the integration of Tether’s (USDT) stablecoin on The Open Network (TON).

According to a Binance statement on June 21, users can now deposit and withdraw Tether (USDT) on TON.

“Binance has completed the integration of Tether (USDT) on the Toncoin Network. Deposits and withdrawals are now open,” the exchange stated.

This integration enables faster transaction speeds, lower fees, and a cost-effective method for handling USDT transactions, Binance added. Users are advised to check their assigned token deposit addresses and the smart contract address on TON via links provided in the exchange’s announcement.

USDT on TON offers several benefits for Binance users. The enhanced transaction speed enables users to move stablecoin liquidity onto the TON blockchain more efficiently. This integration also reduces fees, offering a cost-effective solution for handling USDT transactions, which is especially beneficial for high-volume trading or transfers.

Moreover, the integration provides increased flexibility, ensuring secure and accurate processing of transactions. Users can check their assigned token deposit addresses and the smart contract address on TON through links provided by Binance in its official announcement.

Binance’s integration of USDT on TON comes ahead of expected regulatory shifts in the European Economic Area (EEA). Changes under the Markets in Crypto-Assets Regulation (MiCA) will place certain restrictions on unauthorized stablecoins like USDT.

In response to these regulatory changes, the cryptocurrency exchange Uphold announced it would delist USDT and five other stablecoins by July 1. The other stablecoins include Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD).

In other TON-related news, Telegram founder Pavel Durov announced plans to use the TON blockchain to tokenize stickers and emojis on the popular social media platform.

Speaking at Token2049 in Dubai, Durov highlighted the importance of privacy and freedom, which he said are fundamental to blockchain technology.

Durov also unveiled his plans to build Telegram functionalities on The Open Network blockchain, including integrating USDT and offering ad revenue-sharing options.