Following the USDT Issuance Halt on Ethereum, EOS, and other blockchains, Tether, the stablecoin giant, has disclosed a major update.
Today, July 11, Tether disclosed a critical update in response to its decision to cease issuing USDT on Algorand, EOS, Omni, and Kusama. The firm identified its subsequent actions in discontinuing support for the stablecoins on the blockchains above as part of a more comprehensive strategy to facilitate a robust and innovative blockchain ecosystem for USDT and EURT.
The announcement has rapidly gained considerable traction among Tether users who hold these stablecoins on Omni, Kusama, SLP, EOS, and Algorand. The following is a summary of the announcement and its prospective implications.
Tether To Cease Accepting Redemption of EURT & USDT
USDT and EURT will not be redeemable via Tether on the blockchains above beginning September 1, 2025, as per the company’s official announcement. The stablecoin gaint will also freeze the residual tokens on the blockchains above on the same date.
Users who possess these stablecoins are encouraged to redeem them as soon as feasible. The firm also stated, “Holders who are not customers may seek to migrate their holdings to a supported blockchain through an available service provider by norms.”
The announcement brazenly emphasized that this mover is intended to prioritize community preferences for blockchain development. In another strategic pivot, the firm’s stablecoin USDT was implemented on the Ton blockchain. These developments emphasize the company’s unwavering commitment to providing revolutionary user offerings, propelling it to the industry’s forefront.
Halt of USDT on Algorand, EOS, & Other Cryptocurrencies
Tether discontinued the issuance of USDT on the stockpile above blockchains stockpile, as CoinGape Media reported earlier this year. The decision was predominantly influenced by community interest, maintainability, and usage.
In the meantime, the organization has recently disclosed a partnership with UQUID, which will revolutionize USDT payments in the Philippines. The stablecoin colossus has recently made significant progress, which has exacerbated its competition with Circle, the issuer of the stablecoin USDC.
