Circle, the creator of the stablecoin USD Coin, has announced that it has made the decision to stop supporting the token on the Tron blockchain.
The decision has been made in coordination with the company's efforts to ensure the trust, transparency and security of USDC.
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According to a post on the company's blog on February 20, Circle will immediately stop creating new USDC tokens on the Tron blockchain and phase out existing support for the network.
Circle is encouraging Circle retail users and non-Circle customers to transfer their Tron-based USDCs to an exchange that supports the token on a different blockchain.
The company has not provided a specific reason for the discontinuation of support for Tron, stating that it regularly evaluates the suitability of different blockchains as part of its risk management process.