Tether discontinues Bitcoin stablecoin, citing lack of utilization

The issuer of stablecoin will discontinue its Omni Layer model, citing an absence of curiosity from customers. This Bitcoin model of Tether (USDT) was one of many first stablecoins ever created. The (BCH) and Kusama (KSM) variations will even be discontinued, in response to an Aug. 17 announcement from the crew.

In keeping with the announcement, no new Tether tokens will likely be issued on the Bitcoin Omni Layer, Kusama or Bitcoin Money going ahead. Redemptions will stay out there for at the least a 12 months, and the corporate will concern additional bulletins earlier than the 12 months passes as to the way it will deal with redemptions after that time.

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