Tether Abandons Plan To Freeze USDT On Five Chains

Stablecoin issuer Tether has abandoned its plan to freeze USDT smart contracts on five chains, saying the tokens will remain transferable but no longer be issued or redeemed.

The revised plan impacts users on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, Tether said on Friday after receiving feedback from members of these ecosystems. “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.”

While users will still be able to…