Starting from June 24, 2024, Tether will stop issuing the USDT stablecoin on the EOS and Algorand blockchains.
Tether Announces Strategic Transition to Prioritize Community-Driven Blockchain Support
Read more: https://t.co/UCL1MJt2WO
"Tether will continue to redeem USDT on EOS and Algorand as usual over the next 12 months," the statement said.
At the same time, the company does not exclude that it may change its decision. Its representatives promised a "smooth transition and minimal disruptions."
"Our goal is to direct resources to where they can best improve security and efficiency, while continuing to support innovation in the field of cryptocurrencies," the company stressed.
At the time of writing, the combined volume of USDT supply in the two chains is about $102 million.
Data: Tether Transparency.In August 2023, Tether stopped issuing stablecoin in the Kusama, Bitcoin Cash SLP and Omni Layer ecosystems.
Recall that in April 2024, Tether added support for The Open Network (TON) blockchain. Binance later listed USDT on the TON network.
https://forklog.com/cryptorium/chto-takoe-tether