The BEP20 (BSC) network’s stablecoin deposits and withdrawals will no longer be supported starting on November 24, according to crypto exchange Poloniex.

Poloniex has reportedly halted supporting BEP20 network deposits for USDT, USDC, TUSD, and Binance’s own BUSD, according to a recent release. Other BSC-based coins’ deposit and withdrawal features, however, will continue to work.

As stated in its terms of use, the exchange reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice; it made no further comment on the action taken.

The announcement also advises users to deposit and withdraw stablecoins using the ERC20 and TRC20 networks, and it states that the team will provide equivalent multichain solutions for each stablecoin.

However, some users are currently complaining about stablecoin deposits on the BSC network in the past.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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BEP20 network

ERC20

Poloniex

Stablecoin

trc20

TUSD

USDC

USDT

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Poloniex Suspends Supporting Stablecoins On BEP20 Network

The BEP20 (BSC) network’s stablecoin deposits and withdrawals will no longer be supported starting on November 24, according to crypto exchange Poloniex.

Poloniex has reportedly halted supporting BEP20 network deposits for USDT, USDC, TUSD, and Binance’s own BUSD, according to a recent release. Other BSC-based coins’ deposit and withdrawal features, however, will continue to work.

https://twitter.com/PoloSupport/status/1595442951861182464

As stated in its terms of use, the exchange reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice; it made no further comment on the action taken.

The announcement also advises users to deposit and withdraw stablecoins using the ERC20 and TRC20 networks, and it states that the team will provide equivalent multichain solutions for each stablecoin.

However, some users are currently complaining about stablecoin deposits on the BSC network in the past.

what about my USDTBSC deposit ? it's been 10 days and now the termination announcement pic.twitter.com/EiCMGyLeJv

— harxr (@harxr) November 23, 2022

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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