Major crypto exchange Binance will move from USDT Omni to USDT ERC20 on Thursday, so is WazirX. Other Indian exchanges like Bitbns, CoinDCX, Instashift will follow suit.
In an official announcement, to make the switch, Binance says that there is a 30-minute downtime planned for USDT withdrawals and deposits on July 4, beginning at 13:30 IST.
After the switch, users will not be allowed to withdraw USDT Omni, however users can still deposit USDT Omni to their old addresses.
The crypto exchange Poloniex also announced support for ERC-20-based USDT deposits on July 3. Poloniex will also offer deposit and withdrawal options for Omni addresses, alongside Ethereum and Tron.
In India, WazirX is switching from USDT Omni to USDT ERC20 on July 4 as well. The exchange announced, it will pause USDT deposits and withdrawals between 13:30 and 14:30.
Bitbns will be opening support for USDT for both ERC20 and Tron in a few days, the exchange confirmed to Coin Crunch.
CoinDCX exchange also confirmed they plan to move to USDT ERC20 but also keep Omni Deposits live. Peer to Peer exchange Instashift will also be moving to ERC20 soon, as confirmed to Coin Crunch.
Exchanges like Huobi and OKEx that opened support for ERC20 USDT still allow Bitcoin Based (Omni) USDT.
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