According to Wu, Tether announced that it will stop supporting the euro stablecoin EUR₮ and will no longer accept new EUR₮ issuance applications after processing the last minting request in 2022. Holders must complete redemption before November 27, 2025.
Tether said the decision was based on the evolution of the regulatory framework for stablecoins in the European market. The company will shift its focus to new businesses, including supporting Quantoz Payments to issue EURQ and USDQ stablecoins that comply with MiCAR specifications. These stablecoins will be supported by Tether's newly launched Hadron technology platform.