Tron Eyes the US Dollar, Announces New Crypto Partnership With Tether

by Osiris Team

Posted on March 4, 2019, noon
Time to read: 2 min

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.”

The companies plan to integrate the new USDT token in the second quarter of this year.

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.”

Tron is a tokenized content ecosystem connecting blockchain, cryptocurrency, DApps and peer-to-peer file sharing products.

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.

Related links:
Like and comment it on:

More cryptocurrency news

Latest news

Coinbase Card rolls out DAI as first supported stablecoin

Coinbase Card, a crypto-powered Visa debit card from major crypto exchange Coinbase, now supports Dai, a stablecoin pegged to the United States dollar.


Dec. 6, 2019, 6:36 p.m.

Microsoft teams up with Enjin to offer crypto collectible rewards

Do good work, earn a "badger" - that's the idea behind a new incentive launched by Microsoft and blockchain gaming project Enjin.


Dec. 5, 2019, 2:36 p.m.

Cointelegraph launches Consulting division to drive enterprise blockchain adoption

Cointelegraph has announced the launch of its Cointelegraph Consulting division, which is focused on advancing enterprise blockchain adoption by helping companies understand the potential of blockchain and then matching them with enterprise vendors to implement solutions.

Adoption Development

Dec. 4, 2019, 2:20 p.m.

China’s Great Firewall has blocked access to Ethereum block explorer

China's Great Firewall, used by the government to regulate access to foreign internet sites, has blocked one of the most popular sources of Ethereum blockchain data.

Development Regulatory

Dec. 3, 2019, 5:51 p.m.

Stellar’s Foundation just destroyed half the supply of its Lumens cryptocurrency

The Stellar Development Foundation has burned 55 billion of its XLM tokens, over half the cryptocurrency’s supply, CEO Denelle Dixon announced from the stage of the Stellar Meridian conference Monday.

Alerts Development

Nov. 6, 2019, 10:09 a.m.

Follow us