Tether, the issuer company of the largest stablecoin USDT, announced in its latest announcement that it will stop supporting EOS and Algorand.
In its latest statement, Tether announced that it will stop issuing USDT in EOS and Algorand as of June 24, 2024.
Tether stated that it will continue to offer USDT exchange services on EOS and Algorand for the next 12 months.
“Community interest plays a crucial role when we bring USDT to certain blockchains. We carefully evaluate the security architecture of the network to ensure the security, usability and maintainability of the chosen blockchain.
At this point, after a comprehensive evaluation, Tether will discontinue support for EOS and Algorand applications.
“We will continue to support protocols and chains that the community finds useful and encourage the community to expand USDT use cases across each protocol.”
According to the statement, the transition will proceed as follows: Tether will stop printing USDT in EOS and Algorand as of June 24, 2024. Tether will continue to use USDT on EOS and Algorand as usual for the next 12 months. Other changes may also be evaluated and announced during this period.
*This is not investment advice.