Binance has announced that it has completed the integration of the Tether (USDT) stablecoin on the NEAR Protocol mainnet. According to the exchange, users are now able to deposit and withdraw USDT tokens on the NEAR Protocol mainnet, following the upgrade of the NEAR Protocol network in late December 2020. The addition of USDT support to the NEAR chain is aimed at furthering the chain's appeal to investors and traders.
The integration of USDT on the NEAR Protocol mainnet was made possible through Binance bridging, which facilitates data transfer between different blockchains. Binance revealed that it currently supports five tokens, including NEAR, EOS-based tokens, Tron’s TRX, and IOST’s IOST on its blockchain.
Binance CEO Changpeng Zhao commented on the news, noting that the exchange is focused on providing users with access to their tokens and coins on multiple blockchains. He stated: “We are working to allow our users access to their tokens and coins on multiple blockchains at the same time. We strive to make this process seamless and intuitive for our users, so that they can make use of their assets regardless of the underlying blockchain being used.”
The addition of USDT to the NEAR Protocol mainnet is just the latest step Binance has taken towards furthering its initiative of connecting different blockchains. Binance has previously completed cross-chain transactions, allowing users to transfer crypto assets across different blockchains. In addition, Binance has also worked to create bridges between Ethereum (ETH), NEO, EOSIO-based tokens, TRX, Cosmos, and TomoChain.
The integration of USDT on the NEAR Protocol mainnet is an important step in furthering the integration of different blockchains. The integration of USDT is expected to drive the growth of the NEAR chain, bringing in more users and driving up the value of the token. Binance's effort to further the interconnection of different blockchains will benefit users and create more opportunities for them to take advantage of. With the rise in the number of blockchains being connected, users will be able to access more assets easily with greater flexibility.
Naomi Gonzales
- 2023-04-12
Binance Integrates USDT on NEAR Chain
Binance has announced the completion of the integration of USDT on the NEAR Protocol mainnet. The integration was made possible through Binance bridging, which facilitates data transfer between different blockchains. Binance CEO Changpeng Zhao commented that the exchange is focused on providing users with access to tokens and coins on multiple blockchains.
