Tether’s USDT Pulls Plug on Five Legacy Blockchains, Citing Low Usage
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Tether, the world’s largest stablecoin issuer, is ending support for five “legacy” blockchains — Algorand, Bitcoin Cash, EOS, Kusama, and Omni — in a move to streamline operations and focus on platforms with more active usage.
Redemptions will cease and remaining tokens on those chains will be frozen starting September 1, the company said Thursday.
The decision follows an earlier announcement in August 2023 that support for Bitcoin Cash, Kusama, and Omni would be phased out due to low activity and ongoing performance issues. Minting on those networks already stopped, but users could still redeem tokens — until now.
“Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement — all key components for driving the next wave of stablecoin adoption,” said Tether CEO Paolo Ardoino.
While these networks were once part of Tether’s multi-chain strategy, most have faded into relative obscurity. Omni, in particular, played a historic role as the original home for USDT when it launched in 2014. Built on top of Bitcoin, it offered a way to issue tokens long before Ethereum became the industry standard. But usage plummeted over the years as faster, more flexible blockchains gained ground.
On-chain data reflects the fading role of these networks. Omni once carried nearly $888 million worth of USDT, but only around $82 million is still in circulation. Bitcoin Cash hosted $5 million, now down to less than $1 million. Kusama saw $3.5 million in total issuance, with just $250,000 remaining. EOS, despite its earlier hype, has under $5 million circulating, while Algorand currently holds around $841,000 in USDT.
Tether is now doubling down on faster infrastructure like Bitcoin’s Lightning Network, which it named as a key focus. Ethereum and Tron remain the primary homes for USDT, with about $74 billion and $81 billion issued, respectively — accounting for the bulk of the $159 billion total in circulation.
In a notice to users, Tether urged those holding USDT on the deprecated chains to redeem their tokens or request reissuance on a supported blockchain.
The move also comes as the regulatory spotlight intensifies. In the U.S., lawmakers are pushing forward on a long-delayed “stablecoin bill” that could land on President Trump’s desk later this summer. In Europe, the rollout of MiCA led several platforms to delist or deprioritize USDT.