Originally published on: November 27, 2024
Tether, the renowned issuer of USDt (USDT) stablecoin, is bidding farewell to its euro-pegged stablecoin, EURt. In a recent announcement, Tether revealed its decision to discontinue support for EURt on all blockchains, urging users to redeem their holdings within a one-year timeframe.
First launched by Tether in 2016, EURt is a stablecoin designed to mirror the value of the euro at a 1:1 ratio, offering a stable alternative in the volatile crypto market. Despite maintaining a market capitalization of $27 million, EURt represents a mere fraction of Tether’s flagship USDt stablecoin.
Tether’s move to phase out EURt comes as a response to the shifting regulatory landscape surrounding stablecoins in Europe. With evolving regulations like the European Markets in Crypto-Assets (MiCA) Regulation on the horizon, Tether is recalibrating its priorities to adapt to the changing market dynamics.
As part of the discontinuation process, EURt holders across all blockchains are advised to liquidate their assets by November 25, 2025. Tether is redirecting its focus towards fostering innovation and compliance with forthcoming regulations, emphasizing the importance of community feedback in its decision-making process.
While relinquishing support for EURt, Tether remains committed to collaborating with projects that align with MiCA standards. By endorsing stablecoins like EURq and USDq by Quantoz Payments, Tether is paving the way for a more compliant and user-friendly stablecoin ecosystem.
Through initiatives like these, Tether aims to redefine the boundaries of financial innovation and offer cutting-edge solutions that cater to the evolving needs of users. With a strong emphasis on compliance, Tether is poised to lead the charge towards a more stable and inclusive financial future.
In the midst of regulatory changes and technological advancements, Tether’s strategic realignment signals a pivotal moment in the landscape of stablecoins. Stay tuned for more updates on Tether’s evolving roadmap and its impact on the market.
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