Circle announced that it will gradually stop issuing USDC stablecoins on the TRON blockchain. According to the press release, this is aimed at ensuring the reliability and transparency of the asset.
“As part of our risk management framework, Circle continually evaluates the suitability of all blockchains where USDC is supported. This decision is the result of a corporate-wide approach,” stated the press release.
The issuer encouraged retail users to take USDC off-chain to exchanges for conversion to fiat or transfer to other chains. At the same time, the refusal to support TRON will not be immediate.
Institutional clients of the Circle Mint program will be able to withdraw stablecoins to another network until February 2025. At the same time, the company assured users of its stability and solvency.
According to DeFiLlama, the majority of USDC stablecoins are on the Ethereum network – 81.98%. Tron ranks fifth with a share of 1.17%.
Against the backdrop of the news, the rate of TRON’s native token, TRX, remained stable. At the time of writing it is trading at $0.13
