Binance Successful Integration Of Tether (USDT) On Arbitrum And Optimism

Key Points:

• Binance has now completed the integration of Tether (USDT) on the Arbitrum One and Optimism networks.
• The exchange has also opened up USDT withdrawals on the two Ethereum L2 networks above.
• The integration will increase interoperability for the USDT community with the two most popular layer 2 networks today.

Binance says it has successfully integrated Tether with the Arbitrum and Optimism networks. Currently, the USDT withdrawal service is also available.

According to an announcement on the official website of the largest cryptocurrency exchange in the market, Binance, has completed the integration of Tether (USDT) on the Arbitrum One and Optimism networks. Deposits for Tether (USDT) are now open on both networks.

The exchange also announced that it will open the withdrawal function for Tether (USDT) on the Arbitrum One and Optimism networks once there are enough deposits and will not notify users in a subsequent announcement. Binance’s decision brings many advantages and benefits to traders and the broader blockchain community.

Tether is often seen as a stablecoin issuer with a lot of complicated transparency issues. By launching on top of two of Ethereum’s most popular layer 2 today, it is linked to more trusted platforms, which over time can help solidify its credibility.

Conversely, as the largest stable coin backed by Tether’s reserves, USDT will further enhance the liquidity of both Arbitrum and Optimism. Users no longer need to go through multiple platforms or complicated processes to access USDT on Arabbitrum and Optimism Network.

Previously, the exchange also connected Tether (USDT) with other major players such as Near, Polkadot, EOS Network.

Tether (USDT) was initially staked on the Ethereum protocol. However, the problem of congestion and the need to promote diversity pushed it to other chains. Over the past few years, USDT has now made its way to Solana, Binance Smart Chain (BSC), and even Tron, representing a significant percentage of the total stablecoin volume.

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

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