Altcoin
Tether Issues Update On USDT Halt on Algorand, EOS, & Others
In a follow-up of Tether’s decision to stop issuing USDT on Algorand, EOS, Omni, and Kusama, the stablecoin giant revealed a crucial update today, July 11. As a broader approach to facilitate a robust and innovative blockchain ecosystem for USDT and EURT, the firm spotlighted its next steps in discontinuing support for the mentioned stablecoins on the abovestated blockchains. The announcement has promptly gained significant traction among Tether users holding these stablecoins on Omni, Kusama, SLP, EOS, and Algorand. Here’s an overview of the announcement and its potential implications.
Tether To Halt Accepting Redemption of USDT & EURT
According to the firm’s official announcement, USDT and EURT will not be redeemable via Tether on the mentioned blockchains starting September 1, 2025. Further, the stablecoin gaint will freeze the remaining tokens on the mentioned blockchains on the same date.
Users holding these stablecoins are advised to redeem their holdings as soon as possible. ‘Holders who are not customers may seek to migrate their holdings to a supported blockchain through an available service provider in accordance with norms,’ the firm added.
This mover comes as an approach to prioritize community preferences for blockchain development, the announcement boldly spotlighted. Meanwhile, in another strategic shift, the firm’s stablecoin USDT went live on the Ton blockchain. These developments underscore an undeterred sense of offering revolutionized user offerings, pushing the firm to be among industry pioneers.
Also Read: XRP News: Token Breaks $0.45 Resistance Amid Whale Activity, What’s Next?
USDT Halt On Algorand, EOS, & Others
Earlier this year, CoinGape Media reported that Tether stopped issuing USDT on the abovementioned stockpile of blockchains. The decision was primarily attributable to considerations regarding community interest, maintainability, and usage.
Meanwhile, the firm recently announced a partnership with UQUID, revolutionizing USDT payments in the Philippines. Collectively, the stablecoin giant has made monumental strides recently, intensifying rivalry with competitors such as Circle, the issuer of the stablecoin USDC.
Also Read: Galxe (GAL) and PolyMesh (POLYX) Surge Over 8%, Here’s Why
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: