The new USDT tokens based on the TRC20 token standard will be able to interact with Tron-powered protocols and dApps. This will enable users to transfer crypto backed by fiat across the Tron ecosystem and convert them.
Today we take the next step in our journey towards stablecoin mass adoption though the introduction of USDT on the @Tronfoundation blockchain.— Tether (@Tether_to) March 4, 2019
Read more about how Tron has become the latest blockchain to deploy Tether here: https://t.co/UrVlDXmps6
Tron and Tether joining efforts
Tron has been showing significant progress since summer 2018, when it launched its mainnet, releasing new products such as the Tron Virtual Machine, and attracting new members into its community, including both regular users and dApp developers.
Tether came into existence in the fall of 2014, launching a USDT stablecoin pegged to the US dollar. Despite the fact that since spring 2018 other stablecoins have also been created, USDT is still the leader on this market.
What’s in it for them both?
By allowing Tether to join its platform, Tron intends to add great improvements to its ecosystem of dApps, as well as to its overall system of value storage. Besides, this way the liquidity of Tron’s decentralized exchange will increase.
Apart from that, thanks to this partnership, more corporate partners and institutional investors will be able to access Tron.
This cooperation seems to be beneficial for both platforms, allowing them to improve the decentralized financial system.
They intend to create Tron-based USDT by the start of Q2.