Share this article
USDC Stablecoin Issuer Circle Dumps Tron Network; TRX Steady
Circle cited its “risk management” framework as part of the decision, among other factors.
Updated Mar 9, 2024, 2:15 a.m. Published Feb 21, 2024, 3:48 a.m.
- Circle is phasing out suppport for USDC on the Tron network, with minting of the stablecoin stopping immediately.
- The company said the move is to ensure "USDC remains trusted, transparent and safe."
- Some $300 million of USDC exists on Tron, compared with $22 billion on Ethereum.
Major stablecoin USD Coin (USDC) will no longer be supported on the Tron blockchain, issuer Circle said in an announcement early Wednesday.
“Circle is discontinuing support for USDC on the TRON blockchain in a phased transition. Effective immediately we will no longer mint USDC on TRON,” it said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Customers’ transfers of USDC to other blockchains will be supported through February 2025, while retail users and other non-Circle customers can move their USDC on TRON using exchanges.
Circle cited its risk management framework as part of the decision. “This action aligns with our efforts to ensure that USDC remains trusted, transparent and safe - characteristics that make it the leading regulated digital dollar on the internet,” it stated.
Stablecoins are a type of cryptocurrency that is pegged to a fiat currency, commonly U.S. dollars, and are supported by a basket of underlying assets, such as cash or bonds.
USDC is the second-largest stablecoin after tether with over $26 billion worth of tokens in supply.
Data shows over $22 billion of this amount exists on the Ethereum blockchain, followed by $1.4 billion on Solana and $530 million on Polygon. A relatively small $300 million in USDC exists on Tron, the data shows.
Tron's native tokens remained steady as of Asian morning hours on Wednesday, changing hands at 13 cents.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DraftKings enters prediction markets with CFTC-approved app for real-world events
The sports-betting giant enters the growing world of event contracts with CFTC-registered DraftKings Predictions in 38 states.
What to know:
- DraftKings has unveiled a CFTC-regulated app letting users trade on real-world outcomes like sports and finance in 38 U.S. states.
- The move puts it in direct competition with crypto-native prediction markets like Polymarket or other competitors like Kalshi and Robinhood.
- Prediction markets have emerged as one of the biggest financial trends of the year, fueled by regulatory clarity and rising demand for real-time speculation.
Top Stories
