We’re thrilled to announce that Binance has completed the integration of the Elrond Standard Digital Token (ESDT) standard.
Binance is the largest and most important digital assets exchange in the world by number of users, trading volume and liquidity. With a vast array of services, ranging from asset trading and fiat on/off-ramp to payments and liquidity management, it is the world's leading portal for new people to discover the crypto space, and now the Elrond ecosystem.
“The vast user base of our strategic partner will soon be able to explore digital assets operating at an internet scale, and projects originating on Elrond Network will be able to tap into the biggest markets and the deepest liquidity. This integration is a massive step forward for the entire Elrond ecosystem.” said Beniamin Mincu, Elrond Network CEO.
UTK becomes the first ESDT token listed on Binance
Utrust, the leading crypto payments provider that has recently joined the Elrond family to accelerate the adoption of Web3 payments, is the first to benefit from the integration. The UTK token sitting at the core of the Utrust payments infrastructure can now be deposited and withdrawn as an ESDT directly on the Elrond blockchain.
“It is tremendously exciting to have the biggest exchange supporting this integration. This will accelerate the fusion of Utrust payments technology with Elrond DeFi products, a major milestone towards creating our Merchant Yield product that will be the catalyst for making Web3 payments truly mainstream.” said Sanja Kon, Utrust CEO.
Originally, UTK was created as an ERC20 token on the Ethereum blockchain. By adopting the ESDT standard, products using the UTK token will benefit from faster transactions at much lower costs.
Furthermore, the recent “UTK 2.0” economics upgrade is set to boost the UTK token’s utility with powerful new value accrual mechanisms and incentives for driving Web3 payments adoption for a much broader range of merchants around the world.
With powerful new economics underpinned by the advanced Elrond Standard Digital Token standard, UTK is ready to further expand its utility and gain increased long term support via the powerful Maiar Exchange products and the broader Elrond DeFi ecosystem.
Accelerating Elrond Ecosystem Growth
The integration of ESDT technology with the world’s leading digital assets platform is a major step forward for Web3 payments and projects building with Elrond Network technology.
All on a MASSIVE new scale. And we’re just getting started.