Circle, the issuer behind the second-largest stablecoin USDC, has revealed it’s dropping support for the token on the TRON blockchain effectively immediately amid efforts “to ensure that USDC remains trusted, transparent and safe.”
In an announcement, Circle detailed that it will stop minting USDC on TRON immediately, and will gradually phase out support for the network while allowing Circle Mint business customers’ transfers from TRON to other networks.
The announcement details that through February 2024 these transactions will be supported, and that Circle Mint customers will also be able to redeem the stablecoin for fiat currency directly with Circle.
Circle shared that retail users holding USDC on TRON would be able to transfer the funds to an exchange, or other platforms that support transferring USDC to other blockchains. Circle did not detail why it’s dropping support on TRON.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/feb/21/
