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Tether has announced it will discontinue USDT support on five legacy blockchains, including Omni Layer and Algorand, effective September 1. The move is part of an infrastructure optimization strategy to focus on more scalable networks. Users must redeem or migrate their USDT holdings before the cutoff.
- Tether stops USDT redemptions on Omni Layer, Bitcoin Cash, Kusama, EOS, and Algorand by September 1.
- The move aligns with Tether's shift toward scalable networks like Layer 2 solutions.
- USDT remains the dominant stablecoin with a $160B market cap despite the changes.
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