Poloniex refuses to support stablecoins on the BNB Chain network

Other tokens of the BEP-20 standard remain available to the exchange’s users for now

25.11.2022 - 15:45

352

3 min

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.

Poloniex will no longer support the deposit or withdrawal of any stablecoins on the BEP20(BSC) network from November 24 onwards, until further notice. However, we will continue to offer equivalent multichain solutions for stablecoins across the ERC20 and TRC20 networks.

— Poloniex Customer Support (@PoloSupport) November 23, 2022

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.

This material is taken from the website binance.com.

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