Tether May Phase Out USDT Support on Five Legacy Blockchains to Focus on Scalable Networks

Key Points

1. Tether will terminate USDT support on Algorand, EOS (Vaulta), Bitcoin Cash, Kusama, and Omni Layer Protocol, having already halted minting on these blockchains in 2023.

2. USDT holders on affected blockchains are urged to redeem their tokens as Tether shifts focus to more scalable and innovative platforms.

3. The move reflects broader industry trends favoring layer-2 solutions and aligns with Tether's strategy to enhance regulatory compliance and market utility.

4. USDT remains the largest stablecoin by market capitalization, with nearly $160 billion in circulation, reinforcing its dominant position in the market.

5. Tether plans to concentrate future efforts on supporting layer-2 solutions and emerging networks to sustain stablecoin adoption and regulatory alignment.