📈 Tether’s Strategic Shift in Stablecoin Support
Tether has officially communicated its plan to discontinue support for its euro-pegged stablecoin, EURT. This decision includes ceasing any new issuances and encouraging users to redeem their holdings by November 27, 2025. The move comes amidst evolving regulatory landscapes within Europe, prompting Tether to redirect its focus towards developing other innovative stablecoins that align with the latest regulations.
🔄 Transitioning to MiCAR-Compliant Stablecoins
The issuance of EURT has been stagnant since 2022, with no further minting requests being processed. Tether is urging users to redeem their current EURT holdings well before the proposed deadline. Instead of continuing with EURT, Tether is pivoting towards the development and support of MiCAR-compliant stablecoins, which include EURQ and USDQ. This is part of a collaboration with Quantoz Payments.
EURQ and USDQ will employ Tether’s advanced Hadron technology, designed to enhance the processes for issuing stablecoins while adhering to compliance standards. The Hadron platform provides tools for the creation and management of various tokenized assets and offers features that ensure regulatory compliance while facilitating user interactions with blockchain technology.
This transition embodies Tether’s commitment to innovation and adaptability in an ever-evolving regulatory environment. The firm aims to align its offerings with the existing compliance protocols to better serve the crypto community.
🌐 Ethereum Reclaims Leadership for USDT Supply
In a significant shift, Ethereum has regained its status as the primary blockchain for USDT, overtaking Tron with a supply amounting to $60.3 billion. This resurgence for Ethereum marks its first return to dominance since August 2022, bolstered by a 9.3% increase in USDT circulating on the platform over the past week, as reported by DefiLlama.
Tron now ranks second, with a USDT supply of $58.1 billion, although it has seen a slight supply decrease of 1.5%. Ethereum’s comeback was notably highlighted on November 23 when Tether minted a remarkable $2 billion USDT on Ethereum, compared to $1 billion on Tron, thereby creating a larger supply gap between the two blockchains.
Overall, the total USDT supply across all blockchains has reached a record high of $132.9 billion. Other blockchains where USDT holds a substantial supply include BNB Chain at $4.58 billion, Arbitrum at $3.09 billion, and Avalanche with $1.31 billion. This distribution showcases the increasing support and integration of USDT within various blockchain ecosystems.
🔥 Hot Take: The Road Ahead for Tether and Users
This year has seen Tether making strategic decisions that could reshape its market offerings in response to regulatory pressures and evolving user needs. As Tether phases out EURT, the company appears committed to aligning its products with compliance standards that inspire confidence among regulators and users alike.
Moreover, Ethereum’s resurgence as the primary blockchain for USDT highlights the dynamic nature of cryptocurrency markets and their underlying technologies. Tether’s planned transition to MiCAR-compliant stablecoins could also elevate its relevance and adaptability in a rapidly changing landscape, ensuring that users benefit from stablecoin solutions that are not only innovative but also compliant with regulatory expectations.
As the situation develops, it is essential for users and stakeholders in the cryptocurrency domain to stay informed about shifts like these that could impact the broader blockchain ecosystem and stablecoin utility.
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