Binance Supports 0x Address Format for IoTeX Deposits and Withdrawals

Binance has officially rolled out support for the 0x address format for IoTeX (IOTX) deposits and withdrawals on its web platform and mobile app. This update marks an important step in the IoTeX chain’s ongoing effort to simplify interoperability and align with the standard Ethereum-style “0x” format. After carefully evaluating tradeoffs, the IoTeX team proposed deprecating the legacy “io1” format through IIP-40: Deprecate io1 Address Format in late 2024. Following open community discussion, the proposal was approved, paving the way for consistent address handling across exchanges and ecosystems. Binance’s implementation represents a major milestone toward global standardization, improving cross-chain compatibility and user experience for IOTX holders worldwide.
As part of this change, Binance users will now see the 0x version of their existing deposit addresses. No action is required, as deposits sent to the older “io1” version of the same address will continue to work seamlessly. When withdrawing IOTX, users can now enter either address format: 0x… (new format) or io1… (legacy format). Both address formats remain fully supported during the transition, ensuring uninterrupted use for all users and exchanges. To make conversion simple, the IoTeX team has released an Address Converter Tool on the IoTeX Hub, allowing anyone to instantly switch between io1 and 0x formats.
This milestone marks a major step forward for the IoTeX chain. With Binance now supporting the 0x format, the largest exchange in the world sets the precedent for others to follow, accelerating the transition toward a unified ecosystem for the Real-World AI economy. Beyond simplifying user experience and integrations, this upgrade strengthens the IoTeX L1’s foundation for the AI-powered, real-world economy, where data, devices, and digital assets interact seamlessly across chains. IoTeX is uniquely positioned to capture the multi-trillion-dollar AI and data economy, trusted by partners like Google, Samsung, and others.
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