Tether Ends Support for Euro-pegged Stablecoin EURT

Tether issuer yesterday announced that it will no longer support EURT. This decision was made in response to the regulatory environment surrounding stablecoins, as the industry adjusts to new regulations.

Specifically, Tether cited the European Union’s stablecoin regulation, known as MiCA, as one of the reasons for ending support for the Euro-pegged stablecoin. The regulation was rolled out in June 2021, with a deadline for full implementation by December 30, 2024.

Tether stated that it made the decision after careful consideration and that it will cease minting EURT, with the last acquisition request processed in 2022. New issuance requests for EURT will no longer be accepted. Tether also mentioned choosing to end support for EURT until a more risk-averse framework is in place.

Customers who hold EURT on various blockchains have until November 27, 2025, to redeem their holdings. Tether had previously announced plans to discontinue EURT on certain chains, but this has changed due to strict regulations for asset-referenced tokens.

As a result, several exchanges, such as OKX, Bitstamp, and Coinbase, have delisted the fiat-backed token this year.