Circle will gradually phase out USDC on TRON, and will no longer support minting after February 2025.
Circle announced on 2/21 its plan to discontinue support for its USD Coin (USDC) on the TRON blockchain, stating that this move is to ensure that USDC maintains its transparent, trusted, and secure digital dollar status.
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Circle to Phase Out USDC on TRON, Transition to be Completed by February 2025
Circle has announced that it will cease minting USDC on the TRON blockchain, signaling the beginning of a phased transition.
During this period, Circle will assist customers in moving their USDC to other blockchains, with the transition expected to be completed by February 2025. Circle will guide retail users and other non-Circle customers to transfer their USDC to supported blockchains via exchanges or distributors.
What Can USDC Users on TRON Do?
During the transition period, Circle Mint customers have two main options:
- Transfer USDC to other blockchains
- Convert USDC on TRON directly through Circle into fiat currency
At the same time, retail USDC holders and non-Circle customers can visit global service providers, including exchanges and brokers, to facilitate their cross-chain transfers or fiat conversions.
USDC Still Redeemable for US Dollars
Circle assures that despite these changes, the fundamental promise of USDC remains unchanged, with the ability to redeem it on a 1:1 basis for US dollars, ensuring users continue to enjoy stable and reliable value access.
Why is Circle Ceasing Support for Tron?
Circle states that the decision to stop supporting USDC on TRON stems from its comprehensive risk management framework, which involves a detailed assessment of blockchain suitability. This decision reflects the collective efforts of various departments within Circle, including business and compliance, aimed at strengthening USDC's position as a leading, regulated digital dollar. Looking ahead, Circle remains committed to expanding the availability of USDC, supporting more blockchains to provide developers with choices and ensure user security.
How Much USDC is on Tron? Significant Trading Volume
Currently, there is a supply of 313 million US dollars on Tron, with a total of 380,000 holding addresses and a 24-hour trading volume of 7.56 billion US dollars, indicating a considerable level of usage.
On the other hand, USDT has a much larger presence on TRON, with a supply of 51.8 billion US dollars and a 24-hour trading volume of 66.8 billion US dollars, nearly ten times that of USDC:
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