In addition to stopping new issuance and recommending users to redeem their holdings within a year, ending in November 2025, Tether has announced the suspension of EURT support
Tether announced that it was discontinuing support for EURT and focusing on new products, such as stablecoins that comply with MiCAR, due to changing legal environments in Europe.
Tether switches to USDQ and EURQ that are compatible with MiCAR.
Tether reports that it has not granted any new issuance requests and that EURT minting has not been operational since 2022. Users should redeem their assets by November 27, 2025, the corporation stressed.
Tether, in partnership with Quantoz Payments, is shifting its focus to support EURQ and USDQ, stablecoins that comply with MiCAR. These stablecoins will utilize Tether’s Hadron technology to speed up the issuance and compliance procedures.
According to the company, Hadron is a platform that helps with the creation and administration of a variety of tokenized assets, such as loyalty points and stablecoins. The platform’s goal is to make blockchain interactions easier for issuers and incorporate compliance capabilities.
According to the release, this action is consistent with its objective of prioritizing innovation and adaptability in response to evolving rules. The business plans to make sure that its products adhere to the most recent compliance requirements.
Ethereum rises to the top of the USDT blockchain.
With a supply of $60.3 billion, Ethereum has overtaken Tron as the most popular blockchain for USDT.
DefiLlama data showed that after a 9.3% weekly increase in USDT on the platform, Ethereum regained its lead for the first time since August 2022.
Tron, which is currently in second position, has $58.1 billion in USDT following a 1.5% drop in supply. On November 23, Tether made $2 billion USDT on Ethereum and $1 billion on Tron, increasing the supply difference and solidifying Ethereum’s comeback.
At $132.9 billion, the total USDT supply across all blockchains is at an all-time high. Avalanche ($1.31 billion), Arbitrum ($3.09 billion), and BNB Chain ($4.58 billion) are other networks that house substantial USDT supplies.
