Stablecoin issuer Tether has decided not to freeze USDT smart contracts on five chains, including Omni Layer and Bitcoin Cash SLP, after receiving feedback. Tokens will still be transferable but no longer issued or redeemed on these chains. Tron and Ethereum lead USDT adoption with $80.9 billion and $72.4 billion circulating, respectively.

Tether’s decision aligns with its strategy to focus on chains with high user demand and scalability. Only a few layer-1 blockchains have achieved widespread adoption, such as Tron and Ethereum, which Tether heavily supports. Solana, Arbitrum, and Base are other ecosystems with heavy stablecoin activity, primarily using USDC.

Omni Layer will be most affected by Tether’s decision, with $82.9 million USDT in circulation. Other networks like EOS, Bitcoin Cash SLP, Algorand, and Kusama have smaller amounts of USDT circulating. Tether’s plan to end support for these blockchains has been in progress for two years, with the goal of focusing on more successful ecosystems.

The stablecoin market is expected to strengthen in the coming years, with the total market cap currently at $285.9 billion. US President Donald Trump recently signed the GENIUS Act into law to promote stablecoins pegged to the dollar, aiming to rival other currencies and reinforce the dollar’s dominance. The US Treasury predicts the stablecoin market will reach $2 trillion by 2028.

Read more at Cointelegraph: Tether Abandons Plan To Freeze USDT On Five Chains