Binance has announced its support for the upcoming VeChainThor MainNet launch by offering token swaps on its exchange. The VeChainThor blockchain launch is only days away, with the genesis block set to be created on June 30th.
Binance, the world’s leading cryptocurrency exchange, will support swapping Vechain tokens and handling all technical requirements during the migration. In addition, they have also added trading pairs for Vechain to the stable coin Tether (USDT), which is backed by the US dollar.
VeChain is a multi-purpose platform looking to combine real-world applications with blockchain technology using Internet of Things (IoT) solutions and other data management infrastructure. Counterfeiting, data fraud and 3rd-party trust are just a few of the issues it aims to provide resolutions for.
In its upcoming MainNet launch, the VeChain network will move onto their own blockchain and migrate from using Ethereum-based ERC20 Vechain tokens to their own VET tokens. In the run-up to the launch, they have released a timeline of events including dates for masternode deployment, genesis block creation and continued monitoring of the network.
VeChain is the 17th highest ranked cryptocurrency by market cap, currently trading at $2.69 with a valuation of $1.5 billion.
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