Stablecoin issuer Circle announced this week its plans to fully discontinue minting and support USDC on the TRON blockchain over the coming years. Positioned as an effort to uphold trust and security standards across USDC, the move underscores the company’s expanding risk framework.
Effective immediately, Circle will halt minting any new USDC on the TRON network, instead steering focus towards other chains. The company will assist Circle Mint institutional customers in migrating USDC onto alternate blockchains through February 2025.
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“Our decision to discontinue support for USDC on TRON is the result of an enterprise-wide approach that involved the business organization, compliance and other functions across our company, said Circle in its blog.
Retail users can still shift their TRON-based USDC
Otherwise, retail users and non-Circle clients can still leverage exchanges or brokers to shift their TRON-based USDC coins into versions on blockchains that maintain direct Circle support. Circle also mentioned that, as always, redeeming USDC 1:1 for actual US dollars remains an option as well.
The decision caps months of assessment around TRON’s long-term suitability for hosting such a prominent stablecoin. While no immediate risks triggered the call, Circle indicated the conclusion ultimately aligns with strategic priorities around trust, transparency, and integrity.
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As the leader in regulated stablecoins with over $27.9 billion market cap across USDC overall, upholding stringent standards across chains that support it stays vital to Circle.