Circle stops supporting USDC on the TRON blockchain network

Circle, the company behind USD Coin (USDC), a stablecoin pegged to the US dollar, announced on Tuesday that it will stop supporting USDC on the TRON blockchain network.

In a blog post, Circle said it will no longer mint new USDC tokens on TRON, effective immediately, and will gradually stop supporting the blockchain network over the next two years.

Circle explained that this decision was based on its risk management framework, which evaluates the suitability of all blockchains where USDC is supported. The company said the move is in line with its efforts to ensure that USDC remains trustworthy, transparent and secure, and that it reflects the preferences of corporate and institutional customers.

Circle also said it remains committed to growing USDC and expanding its reach to additional blockchains where it can provide the widest access, widest developer selection, and secure user experience than any other US dollar-pegged stablecoin in the world.

What does this mean for USDC users on TRON?

According to Circle, USDC users on TRON have two options:

Circle Mint customers, which are corporate and institutional customers, can transfer their USDC to other blockchains or exchange their USDC on TRON for fiat currency directly with Circle, until February 2025.
Retail USDC holders and non-circle clients can use hundreds of existing global services, including retail exchanges, brokers and on/off-ramp providers, to transfer their USDC them between blockchains or exchange their USDC for fiat currency.
Circle ensures that USDC remains convertible 1:1 to US dollars as always.