Stablecoin issuer Tether has changed its plan to freeze USDT tokens on five blockchains. Initially, the company was going to completely end support for Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. After getting feedback from these communities, Tether decided to let the existing tokens remain transferable. However, it will stop issuing and redeeming USDT directly on these networks.
This shift aligns with Tether’s strategy to focus on blockchains with high user demand and strong developer activity. The company’s main focus is on Tron and Ethereum, which together hold the vast majority of circulating USDT.
Of the affected blockchains, Omni Layer will be the most impacted, as it holds $82.9 million in USDT. Other chains like EOS, Bitcoin Cash SLP, Algorand, and Kusama have much smaller amounts. This move is part of a longer process, as Tether has been gradually scaling back support for these networks over the past two years.
The stablecoin market is currently valued at nearly $286 billion, with Tether’s USDT and Circle’s USDC leading the way. With recent US legislation promoting dollar-pegged stablecoins, some analysts predict the market could grow to as much as $2 trillion by 2028.
August 2025, Cryptoniteuae
