A new TRC20-based USDT token will broaden the network’s capabilities, enabling interoperability for Tron-based DApps and protocols, according to a press release shared with The Daily Hodl.
Tron founder and BitTorrent CEO Justin Sun says the partnership will give the Tron ecosystem a big boost.
“Our collaboration with Tether to bring a USDT TRC-20 token to TRON will bring incredible stability and confidence to users. As we perform and execute on our vision, they can easily redeem their tokens for US dollars.”
Tether’s USDT is a stablecoin designed to be pegged to the US dollar. It launched in 2014 and remains the largest stablecoin on the market, despite a long list of competitors, and is currently listed as the seventh largest cryptocurrency with a market cap of $2 billion, according to CoinMarketCap.
According to the announcement, Tron expects the collaboration to add key strengths and help attract institutional investors.
“Adding Tether to its blockchain enables Tron to greatly elevate its existing decentralized applications (DApps) ecosystem, improve overall value storage, and increase Decentralized Exchange (DEX) liquidity. It also makes the blockchain more accessible to the enterprise-level partners and institutional investors.”
The platform acquired peer-to-peer filing sharing platform BitTorrent last year and is currently leveraging BitTorrent’s 100 million users to expand engagement across the network.
#TRON is partnering with @Tether_to, officially introducing USDT into the TRON #blockchain. This integration will elevate our dApp ecosystem, increase DEX liquidity, and enhance accessibility for Partners and institutional investors. $TRX $BTT https://t.co/OL6gFK1C0h— TRON Foundation (@Tronfoundation) 4 марта 2019 г.
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