Binance has officially declared its support for the native USD coin (USDC) on the Polygon network, which is issued by Circle. This integration will soon allow for deposits and withdrawals, offering increased flexibility to users.
To distinguish between the different USDC variants, the bridged version of USD Coin (PoS) will be referred to as USDC.e and use MATICUSDCE as its ticker symbol. This development is set to streamline transactions and provide a more seamless experience for users.
As part of this transition, deposits and withdrawals for the existing USDC on the Polygon network are slated to be suspended by 06:00 UTC on October 25, 2023. However, it’s important to note that various other services provided by Binance, such as USDC spot trading, margin trading, futures trading, Binance Earn, and Binance Pay, will remain unaffected and continue as usual.
Binance’s move to accommodate native USD Coin on the Polygon network represents a significant step in expanding its cryptocurrency offerings and enhancing the trading experience for its users. This integration is expected to contribute to the growth of the Polygon ecosystem and provide new opportunities for traders and investors.