Binance, a prominent player in the cryptocurrency exchange sphere, has declared its commitment to supporting the native USD Coin (USDC), issued by Circle, on the Polygon network. This development underscores the increasing synergy between major financial platforms and cutting-edge blockchain ecosystems.
As of now, Binance extends its backing to the bridged version of USDC (USDC.e) on the Polygon network, with MATICUSDCE as the designated ticker. Binance has also made it known that separate announcements will be forthcoming concerning deposits and withdrawals related to the native USD Coin (USDC).
However, changes are on the horizon for the operational dynamics of this integration. Temporarily, the deposit and withdrawal services for the existing USDC on the Polygon network will be temporarily halted starting from 2023-10-25 at 06:00 (UTC).
Importantly, this suspension will not impact other functionalities, which will continue unaffected. Users can still engage in USDC spot trading, margin trading, futures trading, and access Binance Earn and Binance Pay services without interruption. Binance has assured its users that they will experience seamless deposit and withdrawal capabilities for the bridged USD Coin, MATICUSDCE, at all times.
