Tether Platform To Issue USDT Stablecoin On Tron Network
The Tether crypto platform and Tron signed an agreement providing for the launch of USDT stablecoins on the Tron network, as reported on the Tether website.
USDT will be issued on the Tron network along with the stable tokens on the Bitcoin and Ethereum blockchains. Since the creation of the stablecoin, developers have stressed that Tether will not depend solely on one network. The launch of USDT on the Tron blockchain is expected to take place in the first half of 2019. It will be based on the technical standard TRC-20.
USDT gained high popularity from the launch, first on the Bitcoin network on the basis of the Omni Layer protocol and then on Ethereum based on the ERC-20 standard, Jean-Louis van der Velde, Tether CEO, stated. He added that the token creation on the Tron blockchain is a new step in the development of the company, confirming its commitment to the development of innovative technologies in the crypto sphere and a focus on meeting the interests of the community.
Justin Sun, Tron Foundation CEO, emphasized the benefits of partnering with Tether for his company. He believes that creating a stablecoin will help the development of the entire Tron ecosystem and will make it easier for institutional investors to access blockchain.
Currently, Tether is ranked seventh by market capitalization on CoinMarketCap. The crypto platform was criticized in 2018, as many suspected that USDT was not backed with the US dollar sufficiently. Moreover, there were issues with servicing by banking institutions. However, Tether managed to cope with these difficulties.
As previously reported, the Huobi crypto exchange began to support the USDT stablecoins in the ERC-20 format.