{"id":10871,"date":"2024-02-21T10:46:03","date_gmt":"2024-02-21T08:46:03","guid":{"rendered":"https:\/\/forklog.com\/en\/circle-to-cease-usdc-support-on-tron-network\/"},"modified":"2024-02-21T10:46:03","modified_gmt":"2024-02-21T08:46:03","slug":"circle-to-cease-usdc-support-on-tron-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/circle-to-cease-usdc-support-on-tron-network\/","title":{"rendered":"Circle to Cease USDC Support on TRON Network"},"content":{"rendered":"<p>Circle has <a href=\"https:\/\/www.circle.com\/blog\/circle-is-discontinuing-support-for-usdc-on-the-tron-blockchain\">announced<\/a> a phased discontinuation of support for its dollar-pegged stablecoin USDC on the TRON blockchain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ We are discontinuing USDC on the TRON blockchain in a phased transition. Effective immediately, we will no longer mint USDC on TRON. Transfers and redemptions of USDC on TRON will continue to operate normally through February 2025. Read the details: <a href=\"https:\/\/t.co\/kw9A3ZUpWH\">https:\/\/t.co\/kw9A3ZUpWH<\/a><\/p>\n<p>\u2014 Circle (@circle) <a href=\"https:\/\/twitter.com\/circle\/status\/1760108597218889998?ref_src=twsrc%5Etfw\">February 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cEffective immediately, we will no longer mint USDC on TRON,\u201d the statement reads.\u00a0<\/p>\n<\/blockquote>\n<p>The firm plans to support transfers of the stablecoin for its business clients, Circle Mint, to other blockchains until February 2025.<\/p>\n<p>Ordinary users who are \u201cnot Circle customers\u201d will be able to send their USDC to centralized exchanges for withdrawal to supported protocols.\u00a0<\/p>\n<p>Circle did not specify the reason for ending support for TRON, merely stating that it \u201cconstantly evaluates the suitability of all blockchains\u201d as part of its risk management process.<\/p>\n<p>According to the issuer&#8217;s representatives, the decision was \u201cthe result of a corporate-wide approach that included business organization, compliance, and other functions.\u201d<\/p>\n<p>USDC is the second-largest stablecoin after Tether&#8217;s USDT, with a capitalization exceeding $28 billion. According to <a href=\"https:\/\/defillama.com\/stablecoin\/usd-coin\">DeFi Llama<\/a>, about 1.17% of the total supply of the asset is on TRON at the time of writing.<\/p>\n<p>The majority of USDC (81.98%) circulates on Ethereum, followed by Solana (5.22%) and Polygon (1.97%).<\/p>\n<p>Earlier, Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-to-launch-usdc-stablecoin-on-celo-blockchain\">announced<\/a> the launch of its stablecoin on the Celo blockchain.\u00a0<\/p>\n<p>In January, Circle Internet Financial confidentially <a href=\"https:\/\/forklog.com\/en\/news\/circle-files-for-ipo-in-the-united-states\">filed for an IPO<\/a> in the United States as part of its plan to become a public company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle has announced a phased discontinuation of support for its dollar-pegged stablecoin USDC on the TRON blockchain. 1\/ We are discontinuing USDC on the TRON blockchain in a phased transition. Effective immediately, we will no longer mint USDC on TRON. Transfers and redemptions of USDC on TRON will continue to operate normally through February 2025. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,807,951,910],"class_list":["post-10871","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-circle","tag-stablecoins","tag-tron","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10871"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10871\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}