Crypto firm Circle to end support for USDC stablecoin on Tron blockchain

Major U.S. crypto firm Circle will end support for its USDC token on the Tron blockchain network, a decision the company said on Wednesday “aligned with its efforts to ensure that USDC remained trusted, transparent and safe”. Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.

Stablecoins are digital tokens that are designed to keep a constant value and are backed by traditional currencies. Circle did not give a reason for its decision but said that under its risk management framework it “continually assesses the suitability” of blockchains that support USDC, the second-biggest