Stablecoin issuer Tether no longer supports Bitcoin, other chains
Tether Transitions from Stablecoin Variants Tether gave the announcement in a release, stating that it would cease the issuance or “minting” of USDT tokens on the Omni which houses the BTC variant, Kusama, and Bitcoin Cash Simple Ledger Protocol (BCH-SLP) blockchains beginning from August 17. advertisement Despite the cessation of minting, Tether said it is committed to maintaining its redemption mechanism for USDT-Omni, USDT-Kusama, and USDT-BCHSLP for a minimum period of 12 months. This means that users holding these stablecoin variants can still redeem them for their underlying assets through the specified channels. Tether’s strategic transition is driven by an ardent belief in the transformative potential of blockchain technology and decentralized exchanges. While the present circumstances have led to the decision to discontinue support for certain blockchains, Tether remains optimistic about the future. The organization said ...