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Binance Suspends $MATIC Deposits, Relisting as $POL

Polygon ($Matic)

One of the biggest bitcoin exchanges worldwide, Binance, has said that Polygon ($MATIC) would have a temporary suspension of deposits and withdrawals until Friday. This action results from the procedure of relist $MATIC under the new token symbol $POL in the exchange.

Users should expect the suspension until Friday, during which their $MATIC amounts might not show up on their accounts. Binance informed consumers that their money is still safe; temporary visibility problems should go away once the relist process is finished.

As $MATIC moves to a new token standard, the choice to relist it as $POL fits current changes inside the Polygon network. Aimed at increasing the usefulness and scalability of the Polygon network, Binance underlined that the token swap and relisting are part of these enhancements.

Following the Friday relisting procedure, $MATIC tokens in user wallets will be immediately replaced by $POL tokens at a 1:1 ratio. Binance also advised consumers to keep an eye on any updates from the exchange in order to have more knowledge about the relisting.

 

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