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.