Circle ceases USDC support on TRON blockchain as part of risk management strategy
Quick Take The decision followed an “enterprise-wide” risk assessment, according to Circle.
“As part of our risk management framework, Circle continually assesses the suitability of all blockchains where USDC is supported,” the company said in the statement , adding that the decision to cease support for TRON followed an “enterprise-wide approach” involving the business organization, compliance and other functions.
“This action aligns with our efforts to ensure that USDC remains trusted, transparent and safe,” Circle continued.
The company said it will support its Circle Mint users to transfer their USDC to other blockchain networks through February 2025. Its clients may also choose to redeem their USDC holdings for fiat currency with Circle, according to the announcement. Circle directed retail USDC holders and non-Circle users to retail trading platforms to redeem or transfer their holdings.
Circle did not immediately respond to The Block’s request for further comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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