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In a move that mirrors Circle's recent decision, Binance announced its decision to discontinue support for USD Coin ($USDC) deposits and withdrawals via the Tron (TRC20) network, effective April 5, 2024 at 05:00.
Binance Announces Suspension of $USDC Deposit and Withdrawal Support via Tron Network
This decision comes in response to Circle's announcement to discontinue $USDC support on the Tron network, prompting Binance to regulate its services accordingly.
Starting from the specified date and time, $USDC token deposits via TRC20 will no longer be credited to users' accounts on Binance. This development shows that Binance's ecosystem is moving away from TRC20-based transactions for $USDC.
Despite this change, users will still be able to trade $USDC on the Binance platform, ensuring continued access to the popular stablecoin.
More importantly, $USDC deposits and withdrawals via other supported networks will not be affected by this decision, and users will be offered alternative channels to manage their $USDC holdings on Binance.
This move underlines Binance's commitment to adapting its offerings in line with market developments and user preferences, ensuring a seamless and efficient trading experience for its global user base.
*This is not investment advice.