TRON (TRX) has announced that it will cooperate with Tether to bring the USDT stablecoin to the TRON network.
The UDST is linked to the US dollar and will appear on the TRON network as a TRC-20 token and therefore compatible with the decentralized apps (dApps) on the blockchain.
Jean-Louis van der Velde, CEO of Tether, says the following about the collaboration:
We are pleased to announce this collaboration with the Tron Foundation. This integration underscores our commitment to promoting innovation within the cryptocurrency space while continuing to anticipate the needs and demands of the digital currency community.
Justin Sun, CEO of Tron, says:
Our partnership with Tether to bring a USDT TRC20 token to Tron will give users incredible stability and confidence.
Although there are doubts as to whether Tether is really 1: 1 linked to the dollar, UDST is the most popular stablecoin on the market and the coin is even in the top 10 largest cryptocurrencies.
On February 28, the TRON network successfully completed the Odyssey 3.5 hard fork upgrade.
Shortly before, Justin Sun held an AMA session on TRON and the BitTorrent token. The BitTorrent token had a very successful initial coin offering (ICO) at the end of January on the launchpad platform of Binance.
Shortly thereafter, Tron held an airdrop with BTT tokens being given away under TRON (TRX) owners and plans to do so monthly until 2025.
The gambling-dApp TRONbet has also been a great success and may generate $ 36 million in profits this year.
Tron (TRX) came high on a recent Chinese crypto-ranking list.