Tether Discontinues EURT Stablecoin, Shifts Focus to New MiCA-Compliant Ventures

Tether officially announced that it's ceasing the issuance of the EURT stablecoin. The company released a blog post on Wednesday informing the public about its decision.

Tether has officially announced that it will no longer be issuing the EURT stablecoin. The company made the announcement in a blog post on Wednesday.

“We at Tether constantly update our strategy based on community interest,” the company wrote. “Our key considerations include the economic and market conditions that directly affect our token’s performance.”

Tether also said that it wants to make sure its actions fit with its goal of keeping its users safe, making its token easy to use, and ensuring its long-term success. With this in mind, the company said that it is putting more effort into projects that can be used right away.

Tether also said that it is stopping making EURT because of the Markets in Crypto-Assets (MiCA) rules that are coming. The company said that it will keep a “risk-off stance until a more risk-on framework is in place” that will let it keep making new things, keep the system stable, and protect its users.

The company started offering EURT in 2016. The last time people could buy the stablecoin was in 2022.

After the crypto company makes this announcement, it will stop making and selling EURT right away. On the other hand, people who own the asset have until November 27, 2025 to get their money back.

The giant stablecoin company said that it will now focus on other projects, such as Quantoz Payments, a stablecoin that follows MiCA rules. The platform also makes the USQQ and EURQ tokens, which are pegged to the US dollar and the euro, respectively. Hadron, a blockchain technology solution from Tether, runs the project.

Hadron makes it easier to make, manage, and give out stablecoin assets. It also has anti-money laundering (AML) tools built in to help it follow the law.

The tech can be used to make digital versions of almost any asset that can be traded, in addition to stablecoins. This includes things like stocks, bonds, and points for being loyal to a company.

Tether is a part of Cantor Fitzgerald’s $2 Billion Bitcoin Lending Plan

Recently, President-elect Donald Trump said that Howard Lutnick, the CEO of Cantor Fitzgerald, will be his Secretary of Commerce.

Cantor agreed to buy 5% of Tether last year for $600 million, according to reports. After that, Lutnick asked Tether for help with Cantor’s $2 billion Bitcoin (BTC) lending project, according to Reuters.

These connections could help Tether get along better with the new government, even though there are rumors that the company is being looked into because its stablecoin is said to be used a lot to launder money and get around US sanctions.