Tether has announced that they will be discontinuing their EURT support. They have halted new issuances and advised users to redeem all holdings within the next year until November 2025.
Tether’s announcement cited changing regulatory frameworks across Europe as the reason for ceasing EURT support. Instead, Tether is focusing its attention on other products like stablecoins compliant with MiCAR.
Tether Shifts in MiCAR-Compliant EURQ/USDQ
Tether confirmed that EURT minting has been inactive since 2022. No new requests were accepted. The company stated that users must redeem their holdings no later than November 27, 2025.
Tether is refocusing its efforts on MiCAR-compliant stablecoins EURQ & USDQ in collaboration with Quantoz Payments. These stablecoins utilize Tether’s Hadron to streamline the compliance and issuance process.
The company described Hadron as a tool to help create and manage a variety of tokenized asset types, such as loyalty points and stablecoins. The platform also includes features to help issuers comply with blockchain regulations.
The company stated that it aligned this move with its goal of prioritizing adaptability and innovation in response to changing regulations. The company wants to ensure its products are up-to-date with compliance standards.
Ethereum has become the most popular blockchain for USDT.
Ethereum has passed on to become the top blockchain for USDT. With a supply of $60.3 billion, it is now the leader in USDT.
Data from DefiLlama showed that Ethereum had regained dominance after a 9.3% rise in USDT over the previous week.
Tron is in second place with $58.1 billion USDT. This follows a 1.5% decrease in the supply. Ethereum’s rise was further consolidated on November 23 after Tether produced $2 billion USDT using Ethereum as opposed to $1 billion with Tron.
USDT total supply across all chains has risen to a record $132.9 billion. BNB Chain ($4.58 billion), Arbitrum ($3.09 billion), and Avalanche (1.31 billion) are all networks hosting significant USDT.
