Tether Holdings Ltd. has announced the termination of support for its USDT stablecoin on five blockchain networks: Algorand, EOS (Vaultera), Bitcoin Cash, Kusama, and the Omni Layer Protocol.
This decision follows the company’s previous action halting new USDT minting on these platforms and represents a strategic shift towards prioritizing networks deemed more scalable, innovative, and community-driven, particularly layer-2 solutions. Holders of USDT on the affected blockchains are strongly urged to move their tokens to supported chains before the support fully ceases.
The move aligns with evolving industry trends favoring networks with enhanced performance and regulatory compliance capabilities. Tether cites the need to concentrate resources and ensure operational efficiency in deployment and infrastructure management as key reasons for the streamlining.
Despite the delistings, USDT maintains its position as the dominant global stablecoin, with a market capitalization approaching $160 billion underscoring its widespread market adoption.
Future development efforts will center on advancing USDT support on high-utility networks, specifically layer-2 protocols and promising emerging platforms, to foster continued stablecoin utility and regulatory alignment.