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Binance Launches Support for Polkadot-Based USDT Stablecoin


cryptonews.net 26 May 2023 14:25, UTC
Reading time: ~2 m

The world’s largest crypto exchange Binance now supports deposits and withdrawals for Tether (USDT) based on Polkadot, the most widely accepted stablecoin and the third largest crypto asset. Polkadot made the announcement on Twitter highlighting that Binance users can now effortlessly transfer USDT to Polkadot, making stablecoin transactions more convenient.

Through the integration, Polkadot users, as well as parachains and related dApps, can easily receive USDT, thereby increasing the liquidity of the entire ecosystem. By allowing Binance users to transfer their USDT to Polkadot, the integration simplifies the process of interacting with the stablecoin on the Proof-of-Stake (PoS) network. Users no longer need to use multiple platforms or complex procedures to access USDT on Polkadot.

Binance’s support for USDT on Polkadot signifies the growing recognition of Polkadot’s potential in the broader crypto industry. As one of the leading centralized exchanges, the trading platform’s decision to allow Tether transactions on Polkadot speaks volumes about the ecosystem’s credibility and future prospects.

Image: Binance Academy

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