USDT on Eos and Algorand to Benefit from Tether’s New ‘Community Driven Support’ Approach
Tether, the company behind USDT, the largest stablecoin in the crypto market. Announced it will stop minting USDT tokens on the Eos and Algorand blockchains starting June 24.
This decision is part of Tether’s new strategy to focus on “community-driven blockchain support. Prioritizing resources based on community interest and network security. While this transition will impact over 100 million USDT issued on these blockchains, representing less than 0.1% of the total market, Tether ensures a meticulous process with minimal disruption.
Redemptions of USDT on Eos and Algorand will remain available for 12 months. Meanwhile, Tether has recently expanded support to other blockchains like TON, where nearly 500 million USDT have been issued since April.
Clever Robot News Desk 26th June 2024
