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Tether has not explicitly responded whether it will follow Circle's lead in ceasing support for the Tron blockchain

Tether has not explicitly responded whether it will follow Circle's lead in ceasing support for the Tron blockchain

2024/02/22 05:45
USDC0.00%TRX+0.86%

Stablecoin issuer Tether has not explicitly responded to whether it will cease support for the TRON network. Previously, its competitor Circle stopped minting its stablecoin USDC on the TRON chain. When asked by Cointelegraph about comments regarding Circle and whether Tether is considering similar actions, Tether stated in a statement that Tether's tokens are issued on multiple blockchains, which are just the transmission layers of these tokens. It retains the ability to freeze transactions on each directly supported transmission layer to fulfill compliance duties and will continue monitoring the security of each supported transmission layer. According to a transparency report released by Tether on February 21st, there are more than 51.8 billion USDTs on the TRON network, accounting for over half of nearly 101 billion USDT tokens issued across multiple chains.

Yesterday's news reported that Circle announced it would gradually stop supporting USDC on the TRON chain. From now onwards, it will no longer mint USDC on the TRON chain.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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