By Alicia Maher
On Twitter, Binance.US, the US arm of Binance, tweeted that it has added USDT transfers on Avalanche and Polygon blockchains. This will allow Binance users in the US to send USDT from various networks such as AVAX, ETH, and MATIC.
Binance.US Enables USDT Transfer On Polygon And Avalanche
Binance.US is the arm of the exchange firm in the United States. This arm released an announcement recently regarding the transfer of the Stablecoin, USDT.
The report said the company had launched support for the stablecoin transfer on Avalanche and Polygon. This would allow USDT transfers on both networks.
Meanwhile, Polygon MATIC is an Ethereum-based layer-two scaling solution. It offers fast transactions to users at a cheaper cost.
Avalanche is a layer-one blockchain that hosts several bespoke blockchain networks and decentralized applications. Due to the recent integration, Binance users can now transfer the USDT stablecoin from various networks such as AVAX, ETH, and MATIC.
Meanwhile, the global exchange body, Binance, has already integrated support for USDT transfers on both networks. Currently, it supports SOL, BNB, ETH, BSC, TRX, XTZ, and AVAX.
On September 5th, the CEO of Binance, Changpeng Zhao, stated that the platform had discontinued trading services for three stablecoins. They include USDP, USDC, and TUSD.
According to the report, users were advised to transfer the assets to other exchanges before the specified deadline. However, if they fail to do so, Binance will convert the assets to BUSD.
Binance Launches Global Advisory Board
Furthermore, Binance stated that the purpose of the BUSD conversion is to increase capital efficiency. It will also improve liquidity for users.
Binance is the largest crypto exchange according to daily trading volume. Since the inception of the platform, it has grown in terms of development and popularity.
Earlier this week, the exchange announced the integration of BUSD on Polygon and Avalanche. This integration allows users to send BUSD across several chains, such as BNB Chain and ETH.
On Thursday, the exchange unveiled a global advisory board. This board would consist of former financial experts and government officials.
Zhao stated that the board would help the exchange to develop and expand its operation across several borders. The board, dubbed Binance Global Advisory Board, promises to add more value to the crypto exchange.
Meanwhile, Zhao has traveled across the world meeting regulators and government officials. However, the Binance CEO stated he does not have all the knowledge needed to expand its operations. Hence, it has created the board to be its eyes in various parts of the world.