Circle, the U.S.-based issuer of the stablecoin USD Coin (USDC), has announced its decision to discontinue minting the currency on the Tron network.
This move, effective immediately, aims to maintain USDC's reputation as a trusted stablecoin.
In a statement released on February 20, Circle revealed its plan to gradually withdraw support for USDC transactions on the Tron blockchain, citing the desire to concentrate on platforms that align with its standards for trust and security.
Customers who use Circle Mint for their USDC transactions will be supported in transitioning their tokens to other blockchains until February 2025, ensuring a smooth phase-out process from the Tron network.