Tether Freezes USDT, EURT on Omni, Kusama, SLP, EOS, and Algorand

IconCryptoNewsTerminal Staff11 Jul, 2024

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Tether Freezes USDT, EURT on Omni, Kusama, SLP, EOS, and Algorand

Tether, the issuer of the popular stablecoins USDT and EURT, has announced through its official website that starting September 1, it will cease redemptions of its aforementioned stablecoins on the Omni layer of the Bitcoin network, as well as on Kusama (KSM), SLP of Bitcoin Cash, EOS (EOS), and Algorand (ALGO). Furthermore, Tether also clarified that USDT and EURT on the aforementioned networks will be frozen on the same day. Earlier this year, Tether had already announced that it would stop issuing USDT on the aforementioned networks. The stablecoin issuer has been taking steps to consolidate its offerings onto fewer networks. In November 2022, Tether announced the launch of USDT on the Hedera network, the native blockchain of the Hedera Hashgraph platform.

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