Tether’s Grip On Stablecoin Market At Risk As Regulated Rivals Gain Momentum – Here’s Why
Main Idea
Tether's dominance in the stablecoin market is under threat from regulated rivals, and it plans to discontinue USDT support on five blockchains by September 2025.
Key Points
1. Tether's USDT faces competition from regulated stablecoins like RLUSD and USDC, which comply with regulations such as MiCA.
2. Tether will stop supporting USDT on Omni Layer, Bitcoin Cash, Kusama Network, EOS Network, and Algorand starting September 1, 2025.
3. The move aims to focus on more utilized and scalable networks and preserve liquidity.
4. Tether's market cap stands at $159.58 billion, but its dominance may decline as regulated stablecoins gain traction.
5. The discontinuation of USDT on certain blockchains could lead to loss of funds if users do not migrate their assets in time.
Description
Amid the current tightening global oversight and a growing appetite for transparency in the crypto world, Tether ’s position as the leading stablecoin issuer in the sector is at risk from new and rising stablecoins. Fading Dominance Of The Stablecoin Issuer SMQKE, an observer and researcher, shared a report that shows that the firm could lose its robust grip in the stablecoin sector. According to the researcher, the leading stablecoin issuer “will lose market dominance to regulated stablecoins l...
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