BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)--TRON and Tether announced they are partnering to introduce USDT to the TRON blockchain.
The TRC20-based USDT enables interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.
TRON’s been making great progress since its mainnet launch in June 2018, with rapid product iterations and high community adoption, while providing a highly smart and scalable ecosystem for blockchain developers.
Launched in October 2014, Tether was created in response to a clear market need to allow movements of funds quickly between different exchanges, while benefiting from the stability of the US Dollar. While there have been several alternative “stablecoins” launched since March 2018, Tether still enjoys market dominance.
Adding Tether to its blockchain enables TRON to greatly elevate its existing decentralised applications (DApps) ecosystem, improve overall value storage, and increase Decentralised Exchange (DEX) liquidity. It also makes the blockchain more accessible to the enterprise-level partners and institutional investors.
"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,” commented Jean-Louis van der Velde, Chief Executive Officer of Tether.
“Our collaboration with Tether to bring a USDT TRC-20 token to TRON will bring incredible stability and confidence to users,' said Justin Sun, founder of TRON and CEO of BitTorrent. "As we perform and execute on our vision, they can easily redeem their tokens for US dollars."
This collaboration between Tether and TRON is a significant milestone for the two projects and further advances the potential of decentralised finance. The companies expect to implement USDT on Tron by early second quarter.
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About Tether
Created in October 2014, Tether was the first stablecoin in existence, and remained the sole stablecoin in the market until March 2018. Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency—digital cash—to the Bitcoin & Ethereum blockchains, Tether makes a significant contribution to a more connected ecosystem by adding digital currency benefits, such as instant global transactions, to traditional currency and traditional currency benefits, such as price stability, to digital currency. With a commitment to full transparency and compliance, Tether is the most secure, fastest and lowest cost way to transact with money.
About TRON
TRON is creating a boundary-free decentralized internet that inspires innovation across industries. Founded in September 2017 by Justin Sun, TRON is the world’s largest decentralized network and BTT connect BitTorrent to the world of Blockchain, enabling faster downloads and torrent lifetimes, creating a tokenized content ecosystem that benefits 100M+ existing users. TRON is connecting thousands of developers across the world through its consumer-focused ecosystem based on Blockchain, cryptocurrency, dApps, and leading peer-to-peer file sharing products; respectively TRON, Peiwo, BitTorrent & µTorrent.