Circle Ceases Support for USDC on Tron Blockchain

In a recent announcement, Circle, the issuer of the popular U.S. dollar-pegged stablecoin USD Coin (USDC), revealed its decision to discontinue support for the token on the Tron blockchain. This move, according to Circle, is in line with its commitment to ensuring the trust, transparency, and safety of USDC.

Effective immediately, Circle stated in a blog post dated February 20, that it will cease minting USDC on the Tron blockchain and will gradually phase out support for the network. However, the company assured its “Circle Mint” business customers that support for USDC transfers to other blockchains will continue until February 2025.

While urging retail users and non-Circle customers to take action by transferring their TRON-based USDC to an exchange, Circle emphasized the importance of migrating to a blockchain network where USDC remains fully supported.

Despite not providing specific reasons for discontinuing support for Tron, Circle emphasized that its decision was part of a comprehensive risk management process involving various organizational functions, including business operations and compliance.

This strategic shift underscores Circle’s ongoing commitment to maintaining the integrity and reliability of USDC, as well as its dedication to adapting to the evolving landscape of blockchain technologies.

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Hong Kong Regulators Greenlight Bitcoin and Ether ETFs
April 16, 2024By
Fugitive Binance Executive Traced to Kenya, Extradition Efforts Intensify
April 15, 2024By
Winklevoss Twins Inject $4.5 Million Bitcoin Investment into Real Bedford Football Club
April 13, 2024By

Advertisement

Video Posts

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin62,594 1.63 % 0.88 % 11.23 %
Ethereum3,039.6 1.19 % 1.11 % 14.61 %
Tether1.002 0.23 % 0.13 % 0.30 %
BNB548.07 1.24 % 1.75 % 8.42 %
Solana135.80 3.48 % 1.14 % 21.20 %
USDC1.004 0.35 % 0.30 % 0.51 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %