Tether has announced the discontinuation of its euro-pegged stablecoin, EUR₮, asking holders to redeem their tokens by November 25, 2025. The decision to cease support for EUR₮ comes as Tether shifts focus in light of evolving regulatory frameworks in Europe, particularly the European Markets in Crypto-Assets Regulation (MiCA) set to be implemented by the end of 2024. EUR₮, launched in 2016 and pegged to the euro at a 1:1 ratio, has a market capitalization of $27 million, representing a small fraction compared to Tether's USD-backed stablecoin, USD₮. Tether indicated that the last acquisition request for EUR₮ was processed in 2022, and they no longer accept new issuance requests. Moving forward, Tether plans to invest in MiCA-compliant projects, such as EURQ and USDQ stablecoins by Quantoz Payments, which are powered by Tether-designed technology to support compliant stablecoin issuance.

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