Tether has recently announced that it has started the issuance of USD-pegged stablecoin based on the TRC-20 protocol— USDT-Tron. This newly launched stablecoin will function similarly to all other stablecoins in the market, i.e it will be backed by FIAT and it would have zero transactional fees.
Tether Operations Limited and its Stablecoins
The company behind the stablecoin, Tether Operations Limited is known for the USDT stablecoin. The firm converts FIATs into digital currency. As a result, all digital tokens issued by the firm is fully backed by a reserve of FIAT cash.
The digital currency created as a result of this, is known as stablecoin and they are designed to function as a hedge against the crypto market volatility.
As such, the USDT-Tron will be used to hedge against volatility in the price of Tron.
Justin Sun, the Founder of Tron has also confirmed this news in a recent tweet he made. He said:
“Thrilled to announce that the first 10$USDT has been issued in #TRON #blockchain. This is a huge milestone for…