Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Stablecoin issuer Tether has decided to cease production and issuance of USDT on the Kusama test chain, Bitcoin Omni, and Bitcoin Cash (BCH). Users who hold USD-Omni, USD-Kusama, and USD-BCH-SLP can swap their tokens to other chains supported by Tether. This means that users who wish to transact on the aforementioned chains will no longer be able to use Tether’s stablecoin. The move aims to streamline Tether’s operations and focus on its core offerings. Tether has been under scrutiny for its lack of transparency and allegations that it has insufficient backing to cover its USDT issuance.
