Tether, euro-backed stablecoin EUR₮’yu It announced that it will be phased out with the last buyback date set for November 27, 2025.
This decision marks a change of strategy for the company, which has moved towards supporting the new euro (EURQ) and US dollar (USDQ) stablecoins issued by Quantoz Payments, which comply with the EU’s Crypto Assets Regulation (MiCAR) standards.
Tether said in a statement that they are committed to encouraging innovation while prioritizing community needs and regulatory compliance. The company explained that the decision to discontinue EUR₮ came after evaluating economic and market conditions that could affect the utility and sustainability of the stablecoin.
“Community interest is at the heart of our decision-making process. “Our goal is to allocate resources where they can best improve safety and efficiency, while encouraging continuous innovation,” they explained.
EUR₮ issuance officially ended in 2022, with the last issuance request processed that year. While no new tokens will be minted, existing holders have until late 2025 to redeem their EUR₮ tokens.
As part of the transition process, Tether is collaborating with Quantoz Payments to support the issuance of EURQ and USDQ stablecoins. Created using Tether’s advanced “Hadron by Tether” technology, these new assets aim to meet the stringent requirements of MiCAR, the EU’s major cryptocurrency regulatory framework.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/dikkat-bir-altcoin-kullanimdan-kalkiyor-ihracci-sirket-nihai-sonu-acikladi/
