Tether, the issuer of the widely-used stablecoin USDT, has announced it will cease minting USDT on the Algorand and EOS blockchain networks. The decision is part of Tether's strategy to focus on blockchains with growing communities. However, token redemptions on Algorand and EOS will continue for at least another year.

The move is a result of Tether's ongoing assessment of the performance and sustainability of USDT across different blockchains. The company aims to balance maintainability, usage, and community interest, and to allocate resources to blockchains that offer efficiency, security, and support for innovation.

Tether has previously halted USDT issuance on other blockchains, including Bitcoin, Bitcoin Cash, and Kusama, due to stagnation in user and community growth. Despite these changes, Tether remains available on 11 chains, including Ethereum, Tron, Avalanche, Kava, Liquid Network, Near, Celo, Polkadot, Solana, Ton, and Tezos.