Tether reverses USDT freezing on 5 chains, allows transfers, but ends issuance

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  • Tether has said that while USDT transfers on the five blockchains remain possible, no new USDT will be issued or redeemed.
  • Tether is shifting its focus to Ethereum, Tron, and other high-demand networks.
  • The stablecoin market is projected to reach $2T by 2028 amid rising US support.

Tether has adjusted its earlier plan to freeze USDT smart contracts on five blockchains, opting instead to let users continue transferring tokens while halting issuance and redemption.

The change affects Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, networks that now represent only a fraction of USDT circulation.

A shift from freezing to phasing out

In July 2024, Tether announced it would cease redemptions and freeze tokens on the five chains starting September 1, 2025. However, in an August 29 communication, the company seems to have reversed the freeze, opting for a halt to issuance and redemption.

However, following feedback from...

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