At Tether, they remain dedicated to fostering a robust and innovative blockchain ecosystem for USD₮ and all other tokens we issue.
This commitment drives Tether to continuously “assess their transport layers, ensuring a balance between maintainability and usage while prioritizing community interest.”
Community input is crucial in their decision-making process “for deploying Tether tokens on specific blockchains.”
In deciding whether to support a blockchain, they reportedly “evaluate network security, support for customers, compliance with regulatory requirements, and regulatory oversight to seek to ensure user safety, usability, and sustainability.”
In doing so, their priority is to “allocate resources where they can best enhance security and efficiency while supporting ongoing innovation across the crypto landscape.”
Following careful consideration, they at Tether announced last year that they “decided to discontinue stablecoin support for the Omni, Kusama, and SLP implementations.”
Earlier this year, they announced that they “decided to discontinue stablecoin support for the EOS and Algorand implementations.”
Today, they are providing an update “on the next steps in discontinuing support for USD₮ and EUR₮ issued on those blockchains.”
Tether will no longer be obligated “to accept redemption of USD₮ or EUR₮ on Omni, Kusama, SLP, EOS and Algorand starting on September 1, 2025.”
Tether will freeze all remaining USD₮ and EUR₮ “on Omni, Kusama, SLP, EOS and Algorand on September 1, 2025.”
Tether customers holding USD₮ and EUR₮ “on Omni, Kusama, SLP, EOS and Algorand should redeem their holdings as soon as possible or, if desired, request an issuance of USD₮ or EUR₮ on a supported blockchain, in accordance with their Terms of Service.”
Holders who are not customers “may seek to migrate their USD₮ and EUR₮ holdings to a supported blockchain through an available service provider in accordance with the terms of those providers.”
They deeply appreciate your continued support and trust in Tether. Together, they are “paving the way for a more sustainable and democratized financial system for all.”
