Key takeaways
- Tether is discontinuing support for its euro-pegged stablecoin EURT due to regulatory changes.
- Tether will focus on EURQ and USDQ, MiCAR compatible stablecoins, in partnership with Quantoz Payments.
Tether said On Wednesday, it will no longer support its euro-pegged stablecoin EURT. Instead, the company is shifting its focus to new projects, including stablecoins that follow the Markets in Crypto Assets (MiCA) rules.
The leading stablecoin issuer stated that they had stopped minting EURT since 2022. Holders of EURT across all blockchains have until November 27, 2025 to redeem their tokens.
Tether initially announced plans to stop EURT on a number of blockchains such as Omni, Kusama, SLP, EOS and Algorand, starting on September 1, 2025.
However, under the upcoming MiCA legislation, Tether has decided to prioritize initiatives that comply with the new standards, including the launch of Quantoz Payments’ MiCA-compliant stablecoins, EURQ and USDQ, powered by Tether’s Hadron technology.
The Hadron platform, also known as Hadron by Tether, provides tools for stablecoin issuance, blockchain interaction, compliance and anti-money laundering management, the company noted.
“Until a more risk-averse framework is in place — one that fosters innovation and offers the stability and protection our users deserve — we’ve chosen to prioritize other initiatives,” Tether said.
MiCA rules are expected to be fully implemented by December 30, 2024. The rules have been applicable to stablecoins since June this year, especially asset-backed tokens and e-money.
The regulation will introduce strict rules for stablecoins operating within the European Economic Area (EEA).
A number of crypto exchanges announced the delisting of EURT, as well as Tether’s USDT stablecoin in response to the MiCA regulations.
Bitstamp was one of the first to list EURT and decided to delist it before the end of June 2024. OKX also took steps to comply with MiCA by delisting some stablecoin pairs, including EURT.
Uphold also chose to remove USDT and six other stablecoins from its platform for European users.
Binance has restricted access to some stablecoins, including EURT, as part of its compliance measures.
Although Kraken initially reviewed their offerings, they have not officially announced a delisting of EURT but are considering following the MiCA rules.
