Tether Provides Update on Community Prioritization for Blockchain Support in Strategic Transformation
At Tether, we remain focused on fostering a robust and innovative blockchain ecosystem for USD₮ and all other tokens we issue. Through this effort, we continually evaluate our transport layer to ensure a balance between maintainability and utilization while prioritizing the interests of the community.
Community input is extremely important in the decision-making process for introducing Tether tokens on a particular blockchain. When deciding whether to support blockchain, evaluate network security, customer support, compliance with regulatory requirements, and regulatory oversight to ensure user safety, ease of use, and sustainability. I will. In doing so, our priority is to allocate resources where they can best enhance security and efficiency, while supporting continued innovation across the cryptocurrency industry.
After careful consideration, we at Tether announced last year that we had decided to discontinue stablecoin support for Omni, Kusama, and SLP implementations. Earlier this year, we announced that we had decided to discontinue stablecoin support for our EOS and Algorand implementations. Today, we are providing an update on our next steps to discontinue support for USD₮ and EUR₮ issued on these blockchains.
Tether is not obligated to accept USD₮ or EUR₮ redemptions on Omni, Kusama, SLP, EOS, and Algorand after September 1, 2025. Tether will freeze all remaining USD₮ and EUR₮ in Omni, Kusama, SLP, and EOS. and Algorand on September 1, 2025.
Tether customers holding USD₮ and EUR₮ in Omni, Kusama, SLP, EOS, and Algorand must redeem their holdings as soon as possible or, if necessary, transfer them to any supported blockchain in accordance with our terms. You must request issuance of USD₮ or EUR₮. of service. Non-customer holders may seek to migrate their USD₮ and EUR₮ holdings to supported blockchains through available service providers, subject to the provider’s terms.
We deeply appreciate your continued support and trust in Tether. Together, we are paving the way to a more sustainable and democratized financial system for everyone.