Tether (USDT) to Launch on TRON’s Blockchain
Advertisment

Popular stablecoin Tether (USDT) is set to be introduced on the TRON (TRX) blockchain. The move is geared towards increasing interoperability with TRON-based protocols. 


Tether Partnering With TRON

Stablecoin Tether (USDT), which is currently sitting on a total market cap of just over $2 billion, has announced that it will be introduced on TRON’s blockchain.

You want the latest news about Crypto?
Then follow us on Google News!


According to the official release, the move is aimed at increasing interoperability with TRON-based protocols, as well as at enhancing the ecosystem of TRON-based decentralized applications (DApps). At the same time, users will be able to exchange and transact with the USD-pegged stablecoin through the TRON Network.

Speaking on the matter, Jean-Louis der Velde, CEO at Tether, said:

We are pleased to announce this collaboration with the Tron Foundation. This integration underlines our commitment to furthering innovation within the cryptocurrency space as we continue to anticipate the needs and demands of the digital asset community.

So far, Tether has predominantly existed on the Bitcoin-based Omni Layer, with a portion of its circulating supply also issued as ERC-20 tokens — which are built on top of Ethereum (ETH).

tether usdt

Good Move for TRON?

TRON has historically positioned itself as a competitor of Ethereum. Now, it claims that Tether’s integration will elevate its “dApp ecosystem, increase DEX liquidity, and enhance accessibility for partners and institutional investors.”

Last year, TRON founder Justin Sun acquired the popular file-sharing venue BitTorrent. The investment paid off following BitTorrent’s initial coin offering (ICO) on Binance Launchpad. The entire sale was done in less than 15 minutes and raised upwards of $7 million in the process.

Following the ICO, BitTorrent Token (BTT) price soared, gaining around 870 percent in about a week. It has since corrected.

The news of Tether’s integration into TRON’s blockchain has also triggered a slight increase, as TRX 00 has gained around six percent on the day — as of this writing.

For the latest Bitcoin News, join our Telegram

What do you think of Tether’s introduction to TRON’s blockchain? Don’t hesitate to let us know in the comments below! 


Images courtesy of Shutterstock.

 

source: https://bitcoinist.com/tether-usdt-to-launch-on-trons-blockchain/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT

Send Tip now!