Tether will stop supporting USDT on EOS and Algorand networks

The company clarified that it regularly evaluates its supported networks for their security and ease of use, as well as the popularity of USDT in their communities.

As of June 24, Tether will stop issuing new USDT on the EOS and Algorand networks; over the next 12 months, existing coins on these networks can be redeemed (exchanged for collateral) as usual. Further changes will be announced during this period.

Tether noted that the key factor when making decisions about investing in specific blockchains is the interest of the community. The company emphasized that it is committed to allocating resources in a way that can improve security and efficiency while supporting innovation in the crypto industry.

“We will continue to support protocols and blockchains that the community finds useful, and we will encourage the community to expand USDT use cases for each protocol,” Tether concluded.