Tether Ends EUR₮ Operations
Citing shifts in European stablecoin regulations, Tether has announced it will stop supporting its EUR₮ stablecoin.
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Citing shifts in European stablecoin regulations, Tether has announced it will stop supporting its EUR₮ stablecoin.
The final issuance request for EUR₮ was handled as far back as 2022. This apparent lack of demand is likely the true reason for discontinuing the project, which would otherwise necessitate additional investment without generating returns.
No new client requests will be processed, and existing token holders will have until November 27, 2025, to redeem their tokens.
EUR₮ Leaves the Stablecoin Scene Source: valutahandel.se
Tether states that prioritizing community interests is the cornerstone of its product development strategy. Discontinuing EUR₮ is a step toward waiting for a stronger regulatory framework that can offer genuine user protection and convenience.
Resources will now be shifted to the development of EURQ and USDQ, MiCA-compliant stablecoins built on Tether’s Hadron platform in collaboration with Quantoz Payments.
Check out: Stablecoins After June 30: What to Expect?
Customers with concerns about exchanging EUR₮ can contact Tether’s support team for further guidance.
Reacting to a competitor’s recent setback, Circle CEO Jeremy Allaire was quick to emphasize EURC’s success.
Jeremy Allaire EURC is the largest Euro Stable, has grown fast this year, is taking advantage of clear and fair regulations in Europe (alongside USDC!) and is growing TX volume, onchain FX use, and more and more exchanges and wallets launching support
Allaire shared.
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