Tether discontinues USDT redemptions on Omni, SLP, Kusama, EOS, and Algorand from September 1, 2025, to focus on scalable, active blockchain ecosystems.
It has been in the works for years to discontinue USDt on these blockchains, as Tether seeks to shift its strategy to other protocols.
It was announced on Friday by Tether that redemptions for USDt (USDT) on five legacy blockchains will be discontinued effective September 1. The change impacts consumers of Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand.
Paolo Ardoino, CEO of Tether, stated that the sunsetting of support for these legacy protocols enables the company to concentrate on platforms that provide enhanced scalability, developer activity, and community engagement.
It has been in the works for some time that Tether will terminate its support for these specific blockchains. USDt would cease to be issued by the company on the Omni Layer, Kusama, and Bitcoin Cash SLPs in August 2023. minting on EOS and Algorand was discontinued by Tether in June 2024.
The market capitalization of USDt is $139.4 billion, making it the largest stablecoin in circulation, as per the Cointelegraph indexes.
The net circulation of Omni Layer is $82.9 million USDt, as evidenced by a review of USDt balances across the affected blockchains. Other networks, such as Kusama with $240,000, Algorand with $841,600, Bitcoin Cash SLP with $986,500, and EOS with $4.2 million, have less participation.
“There should be no disruption for users of Algorand.”
As per DefiLlama, USDt is the third most popular stablecoin on the Algorand blockchain. USD Coin (USDC), the most prevalent stablecoin on the Algorand network, is issued by Circle, Tether’s primary competitor. It represents roughly $73 million more in market capitalization.
A representative for the Algorand Foundation informed Cointelegraph that “our users should not experience any disruption, as Tether discontinued its service on Algorand last year.”
“They allowed customers to complete redemptions within one year.” In the same year, we have only observed an increase in its stablecoin volumes.
According to Token Terminal’s data, Algorand’s revenue for the previous 30 days was $42,300. The revenue generated by blockchain companies is frequently generated through transaction fees.
Tether claimed that the discontinuance, at least for the Omni Layer, resulted from the network’s dearth of USDt usage.
