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 <p class="is-style-lead">Tether has announced modifications to its USDT issuance strategy, discontinuing <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> on the Bitcoin, Kusama, and Bitcoin Cash while indicating potential future collaborations.</p> 
 <p>Tether, the issuer of the stablecoin USDT, has announced significant changes to its <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> on various blockchains. After an extensive evaluation focusing on security, customer service, regulatory compliance, and overall oversight, Tether halted <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> for USDT on the Bitcoin(BTC), Kusama(KSM), and Bitcoin Cash(BCH) platforms.</p> 
 <p>The company cited insufficient traction as the primary reason, saying “when a blockchain does not show a considerable increase in usage over a considerable time, it becomes increasingly challenging to justify the necessary resources and oversight. It can even pose potential security risks.”</p> 
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    <p lang="en" dir="ltr">Just In: Tether has announced that it will stop minting and issuing USDT on Polkadot test chain Kusama, Bitcoin Omni, and BCH. Users can swap USD₮-Omni, USD₮-Kusama, and USD₮-BCH-SLP to other chains on platforms that <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> these assets (such as Bitfinex).…</p>— Wu Blockchain (@WuBlockchain) August 17, 2023 
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 <p>The immediate implication of this move will be the cessation of USDT-Omni, USDT-Kusama, and USDT–BCHSLP minting from today, Aug. 17. </p> 
 <p>Nevertheless, Tether has assured users that USDT redemption on these platforms will <a rel="noopener noreferrer nofollow" title="continue" href="https://thebittimes.com/tag/continue.html">continue</a> as per standard procedures in the next 12 months. </p> 
 <p>Additionally, for those seeking alternatives, there is the option to swap impacted USDT to other versions via platforms like Bitfinex.</p> 
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 <p>Omni was the pioneering layer Tether utilized in 2014, facilitating the issuance of its stablecoins on Bitcoin. Despite the gradual decrease in USDT’s Omni-based usage due to the availability of the stablecoin on other blockchains, Tether hasn’t closed the door entirely on the prospect. </p> 
 <p>They could reconsider issuing USDT on Bitcoin via Omni, especially if there’s a noticeable increase in Omni Layer’s decentralized exchange (DEX) and token issuance protocol activities.</p> 
 <p>Tether is also collaborating with RGB, a smart contract system on Bitcoin’s layer-2 and 3. They could, in the future, issue USDT on Bitcoin once USDT’s implementation on RGB becomes operational.</p> 
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Tether discontinues USDT support on Bitcoin, Kusama, and Bitcoin Cash

TheBitTimes

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