Last week, Tether has announced the launch of its USD-pegged stablecoin USTD on the TRON (TRX) Blockchain via a blog post.
The launch is an upgrade of USTD from OMNI protocol based. Based on TRON, the coin can now be held and transferred via smart contract with free of charge and instant delivery.
“It enables interoperability with Tron-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the Tron Network,” the blog post explained.
Regarding this campaign, Tron claims that it will collaborate with high-profile digital asset exchanges including Huobi, OKEx, etc. from April 30th to August 7th. The plan for Tron and Tether partnering to issue USDT on the Tron Network was previously announced in early March via a press release. It was explained in the press release that the move would supposedly allow enterprise-level partners and institutional investors to feel more control over the blockchain as a whole.
Previously, USTD was suspected of its capability to maintain adequate reserves to redeem all the outstanding tether tokens. However, it was announced in an unofficial statement that Tether had enough USD to back tokens according to a law firm.