• Sat, 24 Aug 2019, 07:17 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

USDT launches on TRON Blockchain

Wed, 17 Apr 2019, 09:15 am UTC

The first ten USDT has been issued in TRON Blockchain, Justin Sun, CEO and Founder of Tron Foundation, announced in a tweet.


The announcement follows the partnership between TRON and stablecoin project Tether formed in March.

Tether is currently the eighth largest cryptocurrency by market cap. Backed by the U.S. dollar, it was launched in October 2014 with the objective of allowing movements of funds quickly between different exchanges, while benefiting from the stability of the US Dollar.

USDT is now the official stablecoin issued by Tether on the TRON network. The TRON Foundation had said that the TRC20-based USDT will enable interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.

TRC‌-20 is a technical standard used for smart contracts on the TRON blockchain for implementing tokens with the TRON Virtual Machine (TVM). It is fully compatible with ERC‌-20.

In an online post today, the TRON Foundation said, “The TRON based token is an upgrade from the OMNI protocol based USDT, which now allows to hold and transfer via smart contract on TRON, with a completely free and transparent process, 0 transfer fee, and instant delivery.”

TRON further announced that it will reward TRC20-based USDT holders with 20 million USDT for 100 days. Starting April 30th, it will work with leading crypto exchanges including Huobi, OKEx, etc. on this campaign, ending August 7th.

Exchanges and wallets seeking to upgrade to TRC20 based USDT are required to contact official USDT service email. They will work directly with Tether team, telling Tether the amount of USDT-OMNI or USDT-ETH to swap.

Individuals and institutions looking to upgrade to TRC20 based USDT would be required to deposit USDT-OMNI/USDT-ETH to the exchange/wallet that currently supports TRC20 based USDT and follow their instruction on TRC20 based USDT swap notification or announcement.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,317.30 (+1.17%)
  • Ethereum (ETH) $192.26 (-0.11%)
  • XRP (XRP) $0.272900 (+0.53%)
  • Bitcoin Cash (BCH) $312.25 (+0.74%)
  • Litecoin (LTC) $74.06 (+0.18%)
  • Bitcoin (BTC) $10,317.30 (+1.17%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft