Tether will terminate EUR₮ redemption services today and will support a new European compliant stablecoin

Tether has released the latest update on the gradual cessation of EUR₮ trading, which will terminate EUR₮ redemption services today across all supported blockchain networks. Tether stated that this decision aligns with Tether's broader strategic direction, considering the evolving regulatory framework surrounding stablecoins in the European market. Tether will focus on supporting new projects, such as the launch of compliant stablecoins EURQ and USDQ.