Nikolas Sargeant
Binance, a leading cryptocurrency exchange, has announced the integration of Tether (USDT) on the Toncoin Network. This move allows users to deposit and withdraw USDT using the network, enhancing Binance's multi-chain capabilities and offering users more transaction options.
About Toncoin Network
The Toncoin Network, or TON (The Open Network), is a decentralized blockchain platform that evolved from the Telegram Open Network. It's designed for high-speed transactions, aiming to process millions per second using sharding technology. TON operates on a Proof-of-Stake consensus mechanism, prioritizing security and efficiency.
Recently, TON's total value locked (TVL) surpassed $600 million. The integration of USDT, the largest stablecoin by market cap, is expected to boost TON's utility, combining the network's speed and low costs with Tether's stability and liquidity.
Binance's Strategic Integration
Binance's decision to support USDT on TON aligns with its strategy to offer multi-chain support. This integration provides users with specific token deposit addresses for USDT on the TON network, further expanding Binance's diverse digital asset management options.
