Tether abandons plan to freeze USDT on five blockchains
Tether has abandoned its plan to freeze USDT smart contracts on five networks — Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand.
The company said Friday that, following feedback from the affected communities, tokens on these blockchains will remain transferable, though no new issuance or redemption will take place, reports Cointelegraph.
The initial plan had called for freezing contracts starting Sept. 1, but Tether emphasized that this adjustment ensures users can still move funds even without official support.
Tron and Ethereum dominate stablecoin adoption
The decision reflects Tether’s broader strategy to focus on ecosystems with high developer activity and strong user demand. Currently, Tron and Ethereum lead USDT circulation with $80.9 billion and $72.4 billion, respectively, while BNB Chain follows at $6.78 billion, per DeFiLlama. Solana and Ethereum Layer-2 solutions like Arbitrum and Base have also seen strong stablecoin activity, though Circle’s USDC dominates those environments. By contrast, balances on the discontinued chains are small — with Omni Layer at $82.9 million USDT, EOS at $4.2 million, and the others under $1 million each.
Stablecoin market outlook remains bullish
Tether’s decision is part of a two-year sunsetting process, having already halted minting on some of these chains in 2023 and 2024. Despite winding down smaller ecosystems, Tether continues to lead the market, with USDT’s market cap at $167.4 billion out of a total stablecoin sector worth $285.9 billion. The move also coincides with favorable U.S. policy momentum. Last month, President Trump signed the GENIUS Act, which analysts say could help stablecoins reinforce the dollar’s reserve currency status. Treasury estimates suggest the stablecoin market could expand to $2 trillion by 2028, underscoring long-term growth potential even as Tether consolidates its chain support.
Recently we wrote that Tether has officially partnered with the team behind the RGB Protocol to launch USDT on Bitcoin’s base layer, marking the first time the stablecoin integrates directly with Bitcoin infrastructure.
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