The issuer of the stablecoin Tether and the developer of the TRON protocol have entered a cooperation agreement according to which the USDT token will be launched on the TRON blockchain.
This new asset will become the latest addition to the Tether family. So far, Tether had only been launched on the bitcoin and ethereum blockchains.
The new USDT token, which will be based on the TRC-20 standard, will be compatible with all TRON-based decentralized protocols and apps. It is expected to improve decentralized exchange (DEX) liquidity and make TRON more accessible to institutional investors. The token is scheduled to be launched in the second quarter of 2019.
The TRC-20 protocol is similar to ethereum's ERC-20 standard and is compatible with it.
The developers of Tether have highlighted that the stablecoin was "inherently designed to be blockchain agnostic".
Why it is important
- Tether is the world’s most popular stablecoin. According to its development team, every Tether is backed by 1 $. However, some members of the crypto community wonder whether this stablecoin is actually backed by US dollars at a 1:1 ratio.
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