(Reuters) – Cryptocurrency exchange Binance announced on Monday that customers will no longer have the option to deposit and withdraw the dollar-pegged stablecoin USDC using the Tron blockchain network.

Stablecoins are digital tokens designed to maintain a stable value and are backed by traditional currencies. They can be based on various blockchain networks.

Last month, Boston-based crypto firm Circle stated that it would cease creating USDC tokens on the Tron blockchain. This decision, Circle explained, was part of its efforts to ensure the trustworthiness, transparency, and safety of USDC.

Binance specified that it would cease its support for the stablecoin via the Tron blockchain starting from April 5 at 0200 GMT.

In a blog post, Binance assured users that they could still trade USDC on the platform. The deposits and withdrawals of USDC through other supported networks would not be affected by this change.

Tron did not immediately respond to a Reuters request for comment.

Justin Sun, the founder of Tron and a prominent figure in the crypto world, faced a lawsuit last year from the U.S. Securities and Exchange Commission (SEC). The SEC alleged that Sun artificially inflated trading volumes and sold Tron tokens as an unregistered security. Sun dismissed these charges as lacking merit.

USDC, with approximately $32.1 billion in circulation, stands as the eighth-largest cryptocurrency and the second-largest stablecoin, following Tether.

According to Circle’s website, the majority of circulating USDC is based on the Ethereum blockchain. Before Circle’s decision to discontinue support for Tron-based USDC in February, approximately $335 million USDC was hosted on the Tron network.

In November, Reuters reported, citing interviews with financial crime experts and blockchain investigation specialists, that Tron had surpassed Bitcoin as a platform for crypto transfers linked to groups designated as terror organizations by Israel, the United States, and other nations.

In response to this report, a Tron spokesperson clarified that the platform does not control those utilizing its technology and emphasized that it was not associated with the groups identified by Israel.