Stablecoin issuer Tether has not clearly responded whether it will stop supporting the TRON network. Previously, rival Circle stopped minting its stablecoin USDC on the Tron chain.
When asked by Cointelegraph about Circle’s comments and whether Tether was considering a similar move, Tether said in a statement that Tether’s tokens are issued on multiple blockchains and that these blockchains are simply the transport layer for those tokens. It retains the ability to freeze transactions on each directly supported transport layer to fulfill compliance responsibilities, and it continuously monitors the security of each supported transport layer.
According to a transparency report released by Tether on February 21, there are more than 51.8 billion USDT on the Tron network, accounting for more than half of the nearly 101 billion USDT tokens issued across multiple chains. (Cointelegraph)
Yesterday, Circle announced that it would stop supporting USDC on the TRON chain in phases. Effective immediately, it will no longer mint USDC on the TRON chain.