The post Tether ends support for Euro-pegged stablecoin EURT appeared on BitcoinEthereumNews.com.

Tether announced that it would discontinue support for the Euro-pegged stablecoin EURT and will not be minting any more tokens. The blockchain-enabled platform disclosed that the decision was reached due to changes in the stablecoin regulatory framework in the European market.  Tether claimed that the decision was driven by its dedication to fostering an innovative and robust blockchain ecosystem for all the Tether-issued tokens. To fulfill this commitment, Tether continuously assessed its EURT stablecoin offering to ensure a balance between usage and maintainability that prioritized community interest. Tether discontinues the EURT stablecoin and turns its attention to Hadron Tether Updates Users on a Strategic Transition to Better Support Community-Driven Product SupportLearn more: https://t.co/YEAhg4SPsv — Tether (@Tether_to) November 27, 2024 Paolo Ardoino, Tether’s CEO, said that the decision to shelf the EURT stablecoin was neither simple nor easy but necessary. He pointed out that stablecoin would be delisted until Europe established a better regulatory framework that protected users from potential banking systemic risks. Conversely, Tether stated that community interest was at the core of its decision-making process for Tether token deployments.  Ardoino emphasized that Hadron by Tether would be the priority in the Eurozone. He pointed out that Hadron encompassed all the technology and know-how that Tether had built in the last ten years on a single platform. The CEO added that Hadron by Tether aimed to make asset tokenization more accessible than ever. He further mentioned that Hadron would help open new avenues for issuance, investment, and core capital markets technology for a wider audience ranging from fund managers to governments and private companies. “Tether’s decision to delist EURt has not been taken lightly, but until a more risk-averse regulatory framework in Europe is in place—one that fosters innovation, offers the stability and protection our users deserve and avoids potential…

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Filed under: News - @ November 28, 2024 6:27 am