TRON To Revolutionize Crypto Payments In Emerging Markets: Report

TRON DAO is fast emerging as a flag-bearer in the crypto payments landscape, as virtual assets make headway in breaking into emerging economies. These are the findings of the Messari Report: Crypto Theses for 2024. The report underscores that an increasing number of people in developing countries are shifting to USDT on TRON DAO to leverage its store of value and payment functionalities.

According to the Messari report, nearly 40% of USDT demand is driven by its use as a stable store of value and reliable payment method, especially in developing economies. This signals a pivot towards more equitable payment opportunities and stability.

TRON Emerges As A Key Player In Global Crypto Payment Adoption

The report also highlights that TRON DAO is at the forefront of this global shift towards digital payment adoption, thanks to its strong structure and easier accessibility. As of December 29, 2023, the platform has surpassed 6 billion transactions and boasts a 200-million-strong user base.

Dave Uhryniak, Ecosystem Lead of TRON DAO, said blockchain technology will play a significant role in shaping the future, emphasizing the commitment of TRON DAO contributors to creating a more inclusive and efficient global system. His remarks align with the protocol’s broader vision to make digital assets, such as USDT, an empowerment and payment inclusion vehicle.

Furthermore, the Messari report revealed how several users are switching from traditional stablecoins like USDC to USDT on TRON DAO. The shift can be attributed to the protocol’s efficiency, lower costs, and faster transaction speeds.

TRON’s Strategic Moves, From DAO Transition To Hackathon Initiatives

Similar to Bitcoin, Ethereum, and Litecoin, TRON is a permission-less blockchain protocol.  In December 2021, the platform adopted a decentralized autonomous organization (DAO) model, CoinGape reported. Last November, it gave itself an ‘apolitical’ tag, claiming to have been following all regulatory frameworks and government procedures.

After the USDD stablecoin lost its peg last year, TRON DAO injected $700 million to provide support to the stablecoin. In February 2022, TRON DAO partnered with BitTorrent Chain (BTTC) to kick off the TRON Grand Hackathon, a forum for community members to interact, create threads, and more.

At press time, TRON (TRX) price stood at $0.1059, a marginal increase of 0.4% in the last 24 hours. However, the token has rallied more than 95% year-to-date (YTD), in line with the broader sentiment around cryptocurrencies this year.