Tether has announced it will stop issuing its USDT stablecoin on the Algorand and EOS blockchains immediately. The decision follows a thorough evaluation of community interest, maintainability, and usage.
Historically, Tether has discontinued support on other blockchains, such as Bitcoin’s Omni Network, Kusama, and Bitcoin Cash Simple Ledger Protocol. Existing USDT holders on Algorand and EOS can still redeem their tokens for the next 12 months.
This move allows Tether to reallocate resources to enhance security and efficiency across other platforms like Ethereum, Tron, and Solana. Notably, a large percentage of USDT is hosted on Ethereum and Tron.
The strategic shift underscores Tether’s commitment to adapting to evolving blockchain landscapes and maintaining robust security measures. This ensures the long-term sustainability and usability of USDT for its users.
