Tether, the crypto firm behind the largest USD-pegged stablecoin by market cap, has announced a strategic shift in its operational focus. According to a new press release from Tether, the company is now prioritizing community-driven blockchains over others.

Emphasis on Community Interest

Tether's official statement emphasizes the importance of community interest in their decision-making process. 'Community interest plays a pivotal role when we bring USDT to specific blockchains,' reads the press release.

Tether carefully evaluates the network's security architecture to ensure the chosen blockchain's safety, usability, and sustainability. Their goal is to allocate resources where they can best enhance security and efficiency while continuing to support innovation across the crypto landscape.

Discontinuation of Algorand and EOS

Given these considerations, Tether has discontinued USDT-use support for Algorand (ALGO) and EOS. The transition will proceed as follows: Tether will stop minting USDT on EOS and Algorand starting June 24, 2024. However, they will continue to redeem USDT on these platforms for the next 12 months. Further changes may be evaluated and announced around that time.

Commitment to Communities

Despite this shift, Tether promises to continue supporting crypto communities that find USDT useful. The firm remains committed to fostering innovation and ensuring the safety and usability of its stablecoin across various platforms.

Surpassing Visa

In a related development, new data revealed that the daily average volume of the stablecoin USDT over the Tron (TRX) blockchain has surpassed that of credit card giant Visa. This milestone underscores USDT's growing adoption and utility in the crypto ecosystem.

Tether's strategic pivot towards community-driven blockchains marks a significant development in the crypto landscape. As the firm reallocates its resources, the focus remains steadfast on enhancing security, efficiency, and innovation.