Tether discontinues Bitcoin stablecoin, citing lack of usage By Cointelegraph


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The issuer of stablecoin will discontinue its Omni Layer version, citing a lack of interest from users. This Bitcoin version of Tether (USDT) was one of the first stablecoins ever created. The (BCH) and Kusama (KSM) versions will also be discontinued, according to an Aug. 17 announcement from the team.

According to the announcement, no new Tether tokens will be issued on the Bitcoin Omni Layer, Kusama or Bitcoin Cash going forward. Redemptions will remain available for at least a year, and the company will issue further announcements before the year passes as to how it will handle redemptions after that point.