Tether has announced the end of USDT support on five blockchains, aiming to focus on more modern and efficient platforms.
Reasons for Ending Support
Tether will halt fund transfers and token redemptions on Omni Layer, EOS, Algorand, Bitcoin Cash SLP, and Kusama by September 1. This move finalizes a process that began last year when the company partially paused activity on several of these chains. Despite offers to resume support, interest remained low.
Tether's New Strategy
CEO Paolo Ardoino stated that this decision is part of a broader plan to prioritize scalability, developer activity, and community engagement. Many deprecated chains are now considered outdated, and the company is focusing on infrastructure that reflects the current landscape of digital assets.
Impact on Users
With the end of USDT support on these blockchains, users have time to migrate their funds. Tether is also enhancing support for Layer 2 networks like the Lightning Network to improve transaction efficiency and expand stablecoin utility.
Overall, the changes initiated by Tether reflect the company's commitment to adapt to the rapidly changing cryptocurrency space and reallocate resources to support more promising technologies.
