TRON’s been making significant 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 (USDT) 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 significantly elevate its existing decentralized 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 decentralized finance. The companies expect to implement USDT on Tron by early second quarter this year.