Tether announced it will not freeze USDT smart contracts on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand.
The company shared the update on Friday, citing feedback from community members on the affected blockchains. Tether said,
“Following the feedback from the communities of these discontinued blockchains, Tether has revised this approach and will not freeze the smart contracts on these networks.”
Under the revised plan, USDT tokens remain transferable on these blockchains. However, no new issuance or redemption will be available. Tether added that the tokens on these chains are “no longer officially supported” compared with USDT issued on larger blockchains.
The initial freeze date was set for September 1, but the decision now allows balances to continue functioning in a limited form.
USDT Issuance and Redemption End but Transfers Continue
Tether USDT transactions on Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand will still be possible. Yet, direct issuance and redemption have ended.
The company explained the move aligns with its focus on blockchains with strong developer activity and high demand. Tron and Ethereum remain the largest ecosystems for USDT circulation.
The update prevents disruption for users holding balances on the discontinued blockchains, while support remains minimal compared with major chains.
Tron and Ethereum Hold the Largest USDT Supply
Data from DeFiLlama shows Tron holds $80.9 billion in USDT supply, making it the largest chain for the stablecoin. Ethereum follows closely with $72.4 billion in circulation.
The BNB Chain ranks third with $6.78 billion in USDT. Other chains such as Solana, Arbitrum, and Base are active in stablecoin use, though they rely more heavily on Circle’s USDC.
This distribution shows USDT’s strongest presence on Ethereum and Tron compared with smaller blockchains.
Omni Layer Carries the Largest Balance Among Discontinued Chains
A review of balances across the affected blockchains shows Omni Layer holds the highest share, with $82.9 million USDT in circulation.
EOS records about $4.2 million worth of USDT. The remaining blockchains — Bitcoin Cash SLP, Algorand, and Kusama — each have less than $1 million in active circulation.
Tether has gradually reduced its presence on these chains. In August 2023, it ended issuance of USDT on Omni Layer, Kusama, and Bitcoin Cash SLP. In June 2024, it stopped minting on EOS and Algorand.
Stablecoin Market Expands to $285.9 Billion
According to CoinGecko, the total stablecoin market capitalization stands at $285.9 billion. Tether USDT leads with $167.4 billion, followed by USDC with $71.5 billion.
In policy developments, President Donald Trump signed the GENIUS Act into law last month. The law is designed to strengthen the role of dollar-pegged stablecoins in global markets.
The U.S. Treasury projects the stablecoin market could grow to $2 trillion by 2028, highlighting the scale of the sector even as certain blockchains lose direct support.
