TRON once again appeared on limelight with the big announcement that it claims to benefit TRON’s entire ecosystem. The 10th largest cryptocurrency (as per market cap) has announced its partnership with Tether and officially introducing the new version of stablecoin on TRON blockchain.
It revealed with a tweet posted by TRON Foundation –According to the release, the 10th largest cryptocurrency, TRX, and the 7th largest cryptocurrency, Tether is tie up to launch a new version of USDT stablecoin on TRON blockchain. Per the announcement, the integration of new stablecoin on TRON blockchain would increase DEX liquidity. It goes as;
#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) March 4, 2019
Soon after the TRONFoundation’s update, Justin Sun, the founder and CEO of TRON appreciates the move and assured that it would benefit TRON’s entire ecosystem. He says;
We are making big steps to achieve decentralized finance with @Tether_to . #TRON will soon have its own stablecoin! This will benefit our entire ecosystem and make it easier for institutions to access the TRON blockchain👏🏼 $TRX $BTT
Moreover, at press time, Tether has gained 0.44 percent over the past 24 hours, trading at the value $1.01 whereas TRX stands on 10th spot, declining with 2.47 percent during the last 24 hours and trading at the value $0.22251 respectively.
To further note, the new dollar pegged USDT stablecoin will be TRC-20 token as announced on March 04, 2019 (For those who don’t know, TRC-20 is a standard on TRON blockchain –much similar to rival ERC-20 token of Ethereum). It’s worth to note that the Tether is already built on bitcoin and ether blockchain as a stablecoin.
Similar to TRON’s Justin Sun, Jean Louis van der Velde, CEO of Tether encouraged the partnership and states;
“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.”
So readers, what’s in your mind, do you think that it brings a new move to the TRON and Tether or the world of stablecoin? Share your opinion.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com