“The Decision Is Due to Deckling USAGE of USDT on THESE NETWORKS Over the Past Two Years and As the Company Moves Its Focus to Newer Platforms Such as Layer 2s.”, – WRITE: www.coindesk.com
Redemptions and Token Minting on Omni Layer, Bitcoin Cash’s Simple Ledger Protocol, Kusama, EOS, and Algorand Are Set to Sept on Sept. 1, 2025. Remaining tokens are to be frozen on the Same Day, accounting to astatement.
Together, The Five Networks Carry Only A Sliver of USDT’s ROUGHLY $ 156 Billion Float. Tether Says of USAGE of USDT on THESE NETWORKS, WHICH IT TOUts As Playing A ROLE IN THE FIRM’S EARLY GRAWH, HAS DECLINED “SIGNFICANTLY” OVER The PAST TWO YEARS.
“Sunsetting Support for Tese Legacy Chains Allows US to Focus on Platforms that Offer Greater Scalacy Tether Ceo Paolo Ardoino Said in the Statement.
The FIRM WILL REDIRICT ITS FOCUS TO LAYER 2 NETWORKS SUCH AS The LIGHTNING NETWORK AND TO NEWER BLOCKCHAINS THAT PROMISE FASTER SETTLEMENT AND Richer Developer Tooling.
TETHER HAS Asked It Customers Holding USDT on the Five Networks to Redem Their Holdings As Soon As Possible or Request Issuance of Their Tokens on a Supported Blockchain. Token Holders Can Migrate their tokens Through Blockchain Bridges or Exchanges.
The Lion’s Share of Tether’s $ 156 Billion Fiat is Currently Circulating on Tron and Ethereum, Which Together Make Up Over 95% of The Total. Solana is the only Other Network with more than 1% of USDT’s Supple in Circulation, accounting to rwa.xyz data.
