Tether cancels the plan to freeze USDT on five blockchains including EOS

ChainCatcher news, according to Cointelegraph, stablecoin issuer Tether announced that, after feedback from members of these ecosystems, it has abandoned plans to freeze the smart contracts of USDT 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 USDT, while participation from other networks is smaller. Tether had already announced in August 2023 that it would stop issuing USDT on Omni Layer, Kusama, and Bitcoin Cash SLP, and suspended minting on EOS and Algorand in June 2024. Currently, Tether provides the most support on Tron and Ethereum, with USDT circulating at 80.9 billion and 72.4 billion dollars on these two chains, respectively.