Tether Ceases EUR₮ Support and Redemption, Shifts Focus to EURQ and USDQ Stablecoins

Tether disclosed on November 27, 2024 that it will deactivate the EUR₮ program across all supported networks. The company will halt minting of EUR₮, discontinue trading, and stop accepting new EUR₮ issuance requests, effectively winding down the euro-backed stablecoin.

This realignment aligns with a broader strategic reevaluation amid shifting European stablecoin regulation. By exiting EUR₮, Tether aims to align capital and development efforts with compliance standards and regulatory expectations, preserving balance sheet integrity while evaluating opportunities in a more favorable regulatory environment.

Looking ahead, Tether plans to channel resources into the launch of EURQ and USDQ, two compliant stablecoins that aim to meet evolving market demands. The move underscores a disciplined approach to product lineup, risk controls, and continued focus on credible, regulated digital assets.