Stablecoin Tether To Launch USDT On TRON Blockchain

Announcements, Blockchain, News | March 5, 2019 By:

Blockchain startup TRON and Tether are partnering to introduce Tether’s USDT stablecoin to the TRON blockchain.

USDT will be implemented on the TRON blockchain in the second quarter of the year. The TRC20-based USDT will reportedly enable interoperability with TRON-based protocols and dcentralized applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.

“Adding Tether to its blockchain enables TRON to greatly elevate its existing DApps ecosystem, improve overall value storage, and increase Decentralised Exchange (DEX) liquidity,” TRON said. “It also makes the blockchain more accessible to the enterprise-level partners and institutional investors.”

Jean-Louis van der Velde, chief executive officer of Tether, said that the integration underlines their commitment to furthering innovation within the cryptocurrency space as they continue to anticipate the needs and demands of the digital asset community.

Tether was created in October 2014 in response to a clear market need to allow movements of funds quickly between different exchanges, while benefiting from the stability of the US Dollar. It is currently among the top 10 cryptocurrencies by market cap and the world’s most popular stablecoin.

USDT’s main selling point is that it’s pegged to the dollar, but skeptics suggested that the dollar reserves did not match the amount of tokens in circulation. Besides doubts over Tether’s dollar reserves, there’s a separate concern that it may be used to manipulate bitcoin’s price.