Tron and Tether collaborates to issue USDT on TRX Blockchain

Tether is set to launch USDT as a native token on the TRON blockchain which is hoping to launch in the Q2 of 2019. The joint venture is uplifting news for the TRON project, which as of late hard forked effectively and upgraded its TronGrid.

On this strategic development, CEO of Tether Jean-Louis van der Velde said, “We are pleased to announce this collaboration with the Tron Foundation. This integration confirms our commitment to encouraging innovation within the cryptocurrency industry as we continue to foresee the needs and demands of the digital asset community.”

The imminent TRC20-based USDT — a term that shows adherence to a technical token standard bolstered by the Tron blockchain — will be perfect with all Tron-based protocols and decentralized applications (DApps) and authorize for the transaction and exchange of fiat-pegged coins across the blockchain.

Launched in 2014, the USDT has traditionally facilitated frictionless fiat on- and off-ramping to the crypto markets, allowing users to store and exchange value without the onus of slow fiat transfer processing times. The token will be based on the TRON TRC-20standard, and make transactions on TRON’s Dapps easier. According to dapp.reviews, the development of TRON dapp has noticeably been growing, exceeding both EOS and Ethereum.

TRON CEO Justin Sun said that the recent partnership with Tether – to bring a USDT TRC-20 token to TRON – will bring stability and boost the confidence of users. With the option of a stable coin, institutional investors would more easily be able to invest in TRON. After receiving skepticism from the crypto community, it is doubtful that the group had enough in dollar stores to back their tokens. For a long time, Tether endeavored to demonstrate to crypto fans that it in fact has the dollar holds. It released a report that did not completely satisfy the latter.

The increase mentioned above in dapp development is not just one of the notable events; CEO Justin Sun has recently announced a plan to build a 1 billion-strong TRON ecosystem with BitTorrent. He further claims that the addition of USDT will exhilarate its existing decentralized applications (DApps) ecosystem, enhance overall value storage, and increase Decentralised Exchange (DEX) liquidity.”

 

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