On Aug. 17, leading stablecoin firm Tether announced its decision to discontinue support for its USDT stablecoin on three blockchains and blockchain layers: the Omni Layer, Kusama, and Bitcoin Cash SLP implementations of its USDT stablecoin.
Tether emphasized the significance of its decision to end support for Omni, which is the Bitcoin-based network on which the stablecoin was originally offered.
The company said that Omni Layer had experienced challenges that caused many exchanges to prefer USDT issued on other blockchains. Tether said that it is willing to reconsider its decision if Omni sees increased usage in the future.
Tether will instead offer its Bitcoin implementation of USDT on RGB, a layer-2 and layer-3 network for Bitcoin, and the Lightning Network. Tether said that this would offer “unparalleled scalability” and noted that it is contributing to the RGB’s development.
Tether said that it would stop minting USDT on the three affected networks beginning immediately, Au
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