Binance is moving its USDT yield product on-chain to the Plasma network, with a mainnet launch anticipated in September. Users can earn 2% APR on their USDT holdings and participate in the upcoming XPL token launch. The initial deposit cap of $250 million was reached quickly, sparking discussions about possibly raising the limit. Plasma's CEO aims for the partnership to establish the network as a primary chain for stablecoins, emphasizing the network's potential user base of 280 million Binance account holders. With the growing yield economy, the importance of offering returns on stablecoin holdings resonates deeply within the crypto community. This move to yield-bearing products comes after regulatory frameworks like the GENIUS Act were established, which prohibits direct interest from stablecoin issuers but allows third-party offerings. The collaboration will help Plasma build its network's reputation while reinforcing Binance's position in the yield farming landscape.

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