Digital token Tether announced on 4 March about its decision to launch USDTether stablecoin (USDT) on the TRON Blockchain.
The report highlighted that the USDT allows interoperability with TRON-based protocols and decentralized applications (dApps). It will enable users to transact and exchange fiat currencies across the TRON network.
Justin Sun, CEO of TRON posted on Twitter that TRON is aiming to achieve decentralized finance with Tether. TRON’s integration with USDT would benefit its ecosystem.
Tether posted on Twitter that it will be adopting stablecoin mass adoption through USDT.
Today we take the next step in our journey towards stablecoin mass adoption though the introduction of USDT on the @Tronfoundation blockchain.
Read more about how Tron has become the latest blockchain to deploy Tether here: https://t.co/UrVlDXmps6
— Tether (@Tether_to) March 4, 2019
Conveying the technicality, the report states that Tether has so far been prolific on the Omni Layer, which is an essential part of the Bitcoin blockchain. Only a small portion of the currencies in circulation was issued as tokens on the Ethereum blockchain.
Jean-Louis der Velde, CEO of Tether cited –
“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.”
In January, BitTorrent Inc. had launched a new token called BitTorrent Token (BTT) on the TRON blockchain. The aim was to increase the overall speed of torrents by providing users with the ability to use BTT tokens.
TRON (TRX) blockchain protocol reached a new milestone by registering one million user accounts in just 184 days. According to Justin Sun, TRON is poised to be the go-to platform for developers who can build decentralized applications (dApps).
To conclude with another report, the Texas Department of Banking issued a Supervisory Memorandum, which qualifies stablecoin as ‘money.’ The Supervisory memorandum highlights the ongoing trends and stresses on the issue of stablecoins in the market. The memorandum further strives to collate all the cryptocurrencies under the Money Service’s Act.
Will Tether users welcome the launch of USDT on Tron blockchain? Share your thoughts in the comments below.