Tether to End USDT Redemptions on Bitcoin Cash, Algorand and Beyond
2025-07-11 21:39:41
Main Idea
Tether is ending support for its USDT stablecoin on five blockchains as part of efforts to optimize infrastructure, focusing instead on layer-2 networks and growing ecosystems.
Key Points
1. Tether will end USDT support for five blockchains (Algorand, EOS, Bitcoin Cash, Kusama, Omni Layer Protocol) on September 1, freezing remaining assets and stopping redemptions.
2. The move aims to optimize infrastructure, prioritizing networks with greater scalability, developer activity, and community engagement.
3. Tether CEO Paolo Ardoino stated the decision aligns with efforts to drive the next wave of stablecoin adoption.
4. USDT holders on affected blockchains are advised to transfer or redeem their tokens before the deadline.
5. Tether plans to focus future support on layer-2 networks and expanding ecosystems.
Description
Stablecoin issuer Tether is ending support for USDT on five "legacy" blockchains after previously halting minting on those networks.
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