Tether cancels plan to freeze USDT on five blockchains including EOS

ChainCatcher News, according to Cointelegraph, stablecoin issuer Tether announced that, after receiving feedback from members of these ecosystems, it has abandoned its plan to freeze USDT smart contracts on five chains: Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand. Users can still transfer tokens on these blockchains, but Tether will stop direct issuance and redemption on these chains.

Among them, Omni Layer is the most affected chain, currently holding $82.9 million worth of USDT, while participation on other networks is relatively small. As early as August 2023, Tether had already announced it would stop issuing USDT on Omni Layer, Kusama, and Bitcoin Cash SLP, and in June 2024, it suspended minting on EOS and Algorand. Currently, Tether provides the most support on Tron and Ethereum, with USDT circulating volumes of $80.9 billions and $72.4 billions on these two chains, respectively.