Tether announced Monday that it is launching its controversial USD stablecoin on the TRON blockchain. USDT will operate as a TRC20 token that's interoperable with protocols and DApps on TRON.
Tether has so far existed predominantly on Omni Layer, which was built on top of the Bitcoin blockchain. But a small portion (nearly 3 percent) of the circulating supply was also issued as ERC20 tokens on top of Ethereum.
Jean-Louis der Velde, Chief Executive Officer of Tether said: “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.”
Justin Sun, CEO of TRON said that the “collaboration with Tether to bring a USDT TRC-20 token to TRON will bring incredible stability and confidence to users.”