- Circle announced plans to discontinue USDC on the TRON blockchain in a phased manner.
- USDC issuer will no longer mint the stablecoin on TRON, effective Wednesday.
- Circle stated that its decision is a part of risk management and USDC will remain safe with the change.
Circle, issuer of one of the largest stablecoins in the ecosystem, USD Coin (USDC), announced plans to discontinue the asset on the TRON blockchain. The move comes after TRON founder Justin Sun’s recent post about the future of TRON and plans to integrate its ecosystem assets with the Bitcoin blockchain.
Also read: Uniswap launches v2 on Arbitrum, Polygon, Optimism, Base, Binance Smart Chain and Avalanche
USDC issuer discontinues the stablecoin on TRON
Circle ended its USDC mint on TRON, effective February 21, according to its official announcement. Circle’s plan is to discontinue support in a phased manner, while minting activities are ceased immediately, the USDC issuer will support customers’ transfer of the stablecoin to other blockchains until February 2025.
Retail users of USDC on TRON can move their assets to an exchange, since Circle extends support only to institutional investors. Circle’s customers can exchange their USDC for fiat directly with the firm. Circle will redeem 1 USD Coin for 1 USD.
In its announcement, the firm explains that the decision was a part of their risk management framework that assesses the suitability of blockchains that support USDC. Pulling support for TRON aligns with Circle’s effort to maintain the transparency and safety of its stablecoin and its users.
1/ We are discontinuing USDC on the TRON blockchain in a phased transition. Effective immediately, we will no longer mint USDC on TRON. Transfers and redemptions of USDC on TRON will continue to operate normally through February 2025. Read the details: https://t.co/kw9A3ZUpWH
— Circle (@circle) February 21, 2024
Interestingly, the move comes soon after TRON’s plan to integrate ecosystem assets with the Bitcoin blockchain. Find out more about it here.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Axiom’s volume surpasses $100M as meme trading platform war escalates on Solana
Axiom meme coin trading volume hit $101 million for the first time, surpassing other platforms on Solana. Axiom accounts for 30% of the ecosystem’s trading users, followed by Photon and Bullx at 24% each.
Bitcoin aiming for $95,000 as Global M2 money supply surges
Bitcoin (BTC) price edges higher and trades slightly above $85,500 at the time of writing on Tuesday after recovering nearly 7% the previous week. The rising Global M2 money supply could be a favorable signal for both Gold and Bitcoin.
Top 3 gainers Brett, Story and Virtuals Protocol sparkle as Bitcoin eyes $90,000
Cryptocurrencies have sustained a buoyant outlook since last week as US President Donald Trump’s tariff war was paused for 90 days, except for China, propping global markets for lifeline relief rallies.
Three altcoins to watch this week: ALGO, MANA and JASMY show bullish signs
Algorand, Decentraland and JasmyCoin hovers around $0.19, $0.27, and $0.015 on Tuesday after a double-digit recovery last week. ALGO, MANA and JASMY approach their key resistance levels; breakout suggests a rally ahead.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.