Tether discontinues support for the Eos Network and Algorand implementations of its flagship stablecoin USDT.

Tether, the stablecoin giant, has announced the cessation of new USDT issuance on the Eos and Algorand blockchains, effective June 24. The decision aligns with Tether's strategy to maintain balance within its ecosystem and allocate resources where they can enhance security and efficiency while fostering innovation. The transition will be executed meticulously to ensure minimal disruption and a seamless user experience.

Despite the halt in new issuance, Tether will continue to redeem USDT on Eos and Algorand for the next 12 months, with further changes potentially evaluated and announced at that time. Eos-based Tether accounts for approximately $75.5 million in circulation, while Algorand-based USDT stands at around $17 million, both representing a small fraction of the total USDT supply.

Tether's move to discontinue minting on Eos and Algorand follows similar decisions regarding other blockchains like Kusama and Bitcoin Cash SLP. However, the company has been actively integrating new blockchain networks like TON, with around $500 million worth of TON-based USDT minted since April 2024. This decision reflects Tether's commitment to evolving its stablecoin infrastructure to meet changing market demands and technological advancements.