Stablecoin issuer Circle announced Wednesday that it will phase out support for USDC on the TRON network and has immediately ended USDC minting services on the blockchain.

“As part of our risk management framework, Circle continually assesses the suitability of all blockchains where USDC is supported,” the company said in the statement, adding that the decision to cease support for TRON followed an “enterprise-wide approach” involving the business organization, compliance and other functions. 

“This action aligns with our efforts to ensure that USDC remains trusted, transparent and safe,” Circle continued.

The company said it will support its Circle Mint users to transfer their USDC to other blockchain networks through February 2025. Its clients may also choose to redeem their …