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June 24, 2024 Tóth Balázs
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Tether Discontinues Support for EOS and Algorand

Stablecoin issuer Tether has announced that it will cease supporting USDT on the EOS and Algorand blockchains. The company stated that it is continuously optimizing processes for maintainability, usage, and community interest, leading to this decision. Users will have the next 12 months to redeem their USDT on these blockchains.

Taurus Expands Services to Stellar

Swiss digital asset infrastructure provider Taurus, which serves financial institutions such as Deutsche Bank, Credit Suisse, and Santander, has announced the expansion of its offerings to the Stellar network. The fintech company’s “Taurus-CAPITAL” digital issuance and tokenization platform is now available on Stellar’s open-source, public blockchain. This allows banks and issuers to launch and manage any tokenized assets on the Stellar network.

Innovations on Solana

Light Protocol and Helius Labs have jointly announced the launch of a new method for scaling Solana applications using a technology called “ZK Compression.” This innovation works through a process known as state compression, allowing developers to store certain types of data on Solana’s cheaper ledger storage. This can make a compressed PDA account up to 160 times more cost-effective.
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