Tether Partners With Tron to Launch a TRC20-Based Stablecoin on Tron Blockchain

On Monday, March 4, the Tron Foundation announced forming an official partnership with Tether to launch its USDT stablecoin on the Tron blockchain network. As a result, the USDT stablecoin will be based on Tron’s TRC20 protocol and will be interoperable will all other decentralized apps (DApps) on the Tron blockchain network.

Tether (USDT) in one of the widely used USD-pegged stablecoin in the global crypto community. The stablecoin currently ranks as the seventh most powerful crypto token by market cap. The arrival of the USDT token on the Tron blockchain will improve the network’s overall value storage and enhance decentralized exchange (DEX) liquidity.

With the arrival of USDT on the Tron blockchain, it is likely that the network will attract more enterprise-level partners and institutional players. The USDT implementation on the Tron blockchain network is likely to happen by Q2 2019.

Jean-Louis van der Velde, chief executive officer of Tether, commented on this new partnership saying: 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”.

Just like the ERC20 is a technical standard for tokens on the Ethereum blockchain network, TRC20 is a technical standard for tokens on that Tron blockchain. The TRC20 standard is used for new tokens, Dapps, and smart contracts on the Tron blockchain.

Tron founder Justin Sun commented on the latest development saying: Our collaboration with Tether to bring a USDT TRC20 token to Tron will bring incredible stability and confidence to users. As we perform and execute on our vision, they can easily redeem their tokens for US dollars.”

Over the last year, Tron has made considerable progress by attracting new projects in the crypto sector. Last week on February 28, Tron had undergone a hard fork upgrade named the Odyssey 3.5. The hard fork brings interesting new features to the Tron blockchain including account management and multi-signature addresses. Furthermore, it also improves the Tron blockchain’s performance by 50%.

With a vision to decentralize the global internet, Tron acquired peer-to-peer file sharing platform BitTorrent, last year in May 2018. In early 2019, the company also launched the BitTorrent (BTT) token on the Tron blockchain network.

BitTorrent token is the first in a series of steps to support a decentralized internet,” said Justin Sun, founder of TRON and CEO of BitTorrent. In one giant leap, the BitTorrent client can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”