The U.S. financial technology firm Circle said on Feb. 21 that it will discontinue support for USDC on Tron blockchain. The move comes just a few months after Circle refuted allegations that it was Tron blockchain founder Justin Sun’s bank. Despite discontinuing support for USDC on Tron, Circle said it is still committed to growing the stablecoin and expanding its “reach to additional blockchains.”
Retail Users Advised to Shift Funds to Exchanges Supporting USDC
Circle, a financial technology (fintech) firm, announced On Feb. 21 that it will discontinue support for USDC on the Tron blockchain. Despite this, Circle said it will continue to facilitate Circle Mint customers’ transfers of the stablecoin to other blockchains until February 2025.
In a statement, Circle also urged retail users and non-Circle customers to transfer their USDC on Tron to an exchange or distributor that allows transfers to a blockchain where the stablecoin is supported. This decision to cease support for USDC on the Tron blockchain comes a few months after Circle dismissed claims that it funds terrorist organizations.
As reported by Bitcoin.com News, Circle through its Chief Strategy Officer Dante Disparte also denied being Justin Sun’s bank in its letter to U.S. Senator Elizabeth Warren. Although Circle did have dealings with Sun before, according to Disparte, these were above board.
Explaining its rationale for discontinuing Tron, the fintech firm insisted that this decision bolsters the stablecoin’s standing as the foremost regulated digital asset.
“Our decision to discontinue support for USDC on Tron is the result of an enterprise-wide approach that involved the business organization, compliance and other functions across our company. This action aligns with our efforts to ensure that USDC remains trusted, transparent and safe – characteristics that make it the leading regulated digital dollar on the internet,” Circle said.
Despite discontinuing support for USDC on Tron, Circle said it is still committed to growing USDC and expanding its “reach to additional blockchains.”
Curious about Bitcoin?
How about mining this new and asymmetric asset?
Find out how it works.
Book your edge now!
www.rollmanmining.com
