• Tether stops minting USD₮ on EOS and Algorand, focusing on community-driven blockchain support to boost security and efficiency.
• Tether prioritizes protocols valued by the community, ensuring its blockchain implementations’ safety, usability, and sustainability.
• Tether’s strategic shift aims to enhance USD₮’s ecosystem, with continued redemption on EOS and Algorand for the next 12 months.

Tether, the issuer of the world’s largest stablecoin, is adjusting its blockchain strategy by ceasing to mint new USD₮ tokens on the EOS and Algorand networks.

Starting June 24, 2024, Tether has announced it will discontinue minting USD₮ on EOS and Algorand but will continue to redeem USD₮ on these platforms for the next 12 months.

Community interest is a critical factor in Tether’s decision-making process. Tether evaluates the security architecture of each network to ensure the safety, usability, and sustainability of the chosen blockchain. This careful assessment helps allocate resources to enhance security and efficiency. The company remains committed to supporting the protocols and chains that the community values.

The transition to discontinue support fo…

The post Tether Halts New USD₮ Minting on EOS and Algorand, Citing Community Focus appeared first on Coin Edition.

• Tether stops minting USD₮ on EOS and Algorand, focusing on community-driven blockchain support to boost security and efficiency.
• Tether prioritizes protocols valued by the community, ensuring its blockchain implementations’ safety, usability, and sustainability.
• Tether’s strategic shift aims to enhance USD₮’s ecosystem, with continued redemption on EOS and Algorand for the next 12 months.

Tether, the issuer of the world’s largest stablecoin, is adjusting its blockchain strategy by ceasing to mint new USD₮ tokens on the EOS and Algorand networks.

Starting June 24, 2024, Tether has announced it will discontinue minting USD₮ on EOS and Algorand but will continue to redeem USD₮ on these platforms for the next 12 months.

Community interest is a critical factor in Tether’s decision-making process. Tether evaluates the security architecture of each network to ensure the safety, usability, and sustainability of the chosen blockchain. This careful assessment helps allocate resources to enhance security and efficiency. The company remains committed to supporting the protocols and chains that the community values.

The transition to discontinue support fo…

The post Tether Halts New USD₮ Minting on EOS and Algorand, Citing Community Focus appeared first on Coin Edition.