- Circle announces the discontinuation of USDC minting on the Tron blockchain for enhanced trust and safety.
- The company will support existing Circle Mint business transactions on Tron until February 2025.
- Circle’s decision follows an assessment of blockchain networks’ suitability without specifying reasons for dropping Tron.
Circle, the company behind the widely-used USD Coin (USDC), has decided to stop its services on the Tron blockchain. According to its recent article, this move is part of Circle’s ongoing effort to keep USDC reliable and secure for everyone. Starting now, Circle won’t be creating any more USDC on Tron, and they plan to reduce their involvement with this blockchain little by little.
Keeping USDC Reliable
Circle is dedicated to making sure USDC is a safe and trustworthy digital dollar. Even though they’re stopping their support on Tron, they’re still going to help their business customers who use Circle Mint to move their USDC to other blockchains until February 2025. They’re advising people who use USDC on Tron to switch their coins to a different blockchain that still works with USDC.
A Careful Choice
The reason behind Circle’s decision to move away from Tron isn’t entirely clear, as they didn’t provide specific details. They mentioned that this decision came after a thorough review of different blockchains to make sure they’re all good choices for USDC. This step was taken with careful planning and involved many parts of the company, including their compliance and business teams.
Circle is a big name in the digital currency world, with USDC being the second-largest stablecoin right behind Tether, according to recent figures. This decision to stop supporting Tron follows some controversies surrounding Tron’s founder, Justin Sun, though Circle has stated they haven’t worked with Sun since early 2023. The move reflects Circle’s commitment to maintaining the integrity and trustworthiness of USDC across all platforms it operates on.
