Circle will discontinue USDC support on the TRON blockchain as part of its risk management strategy.

Stablecoin issuer Circle announced on Wednesday that it would be phasing out support. USDC

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We have terminated USDC mining services on our blockchain on the TRON network, effective immediately.

“As part of its risk management framework, Circle continually evaluates the suitability of all USDC-backed blockchains,” the company said. nameIt added that the decision to discontinue support for TRON was based on an “enterprise-wide approach” that included business organization, compliance and other functions.

“This action is consistent with our efforts to ensure USDC remains trusted, transparent, and secure,” Circle continued.

The company said it will enable Circle Mint users to transfer USDC to other blockchain networks by February 2025. Customers can also redeem their USDC holdings for fiat through Circle, according to the announcement. Circle directed retail USDC holders and non-Circle users to its retail trading platform to redeem or transfer their holdings.

Circle did not immediately respond to The Block’s request for further comment.

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