Tether discontinues Bitcoin stablecoin, citing lack of usage
The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year. The issuer of stablecoin Tether (USDT) will dis continue its Bitcoin (BTC) Omni Layer version, citing lack of interest from users. This Bitcoin version of Tether was one of the first stablecoin s ever created. The Bitcoin Cash (BCH) and Kusama (KSM) versions will also be dis continue d, according to an August 17 announcement from the team. Today #Tether announces the ending of the support of 3 blockchains $USDt: OmniLayer, BCH-SLP and Kusama. Customers will be able to continue to redeem and swap $USDt tokens (to another of the many supported blockchains), but Tether won't issue any new additional $USDt on those 3… https://t.co/aghLgqtSuO — Paolo Ardoino (@paoloardoino) August 17, 2023 According to the announcement, no new Tether tokens will be issued on the Bitcoin Omni layer, Kusama, or Bitcoin Cash going forward. Redemptions will remain...