Tether has announced that the USDT stablecoin will no longer be issued for use on the EOS and Algorand blockchains as of June 24, 2024.
The business, however, does not necessarily rule out the possibility of reversing its decision. A “smooth transition and minimal disruption” was the assurance given by its representatives.
“We are committed to allocating our resources in a way that will maximize security and efficiency, all the while fostering innovation within the cryptocurrency industry,” the company stressed.
No more Kusama, Bitcoin Cash SLP, or Omni Layer stablecoins were issued by Tether in August 2023.
For those who don’t remember, Tether began supporting the TON blockchain in April 2024. After some time, Binance added USDT to the TON network.