Cryptocurrency exchange Bitfinex has announced it will support TRON-based USDT with the addition of deposits and withdrawals for TRC-20 USDT as soon as they are available on chain.

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TRC20-based USDT is a TRON-based Tether token, interoperable with TRON protocols and decentralized applications, and allows for the movement of fiat-backed tokens across the TRON blockchain network.

The addition of Tether-based TRON is another example of Bitfinex’s blockchain-agnostic ethos guaranteeing flexibility and choice for its traders.

In addition to TRON-based Tether, Bitfinex also provides a platform of support for OMNI and Ethereum based Tether.

As of 9th April 2019 there are no minimum equity requirements to create an account with Bitfinex.

Tether has been the topic of some controversy in the past after questions surfaced about whether the stablecoin is really backed by physical U.S. dollars at a 1:1 ratio.

In January in 2017, Tether told investors they were going to hire a third party auditor to verify the firm’s holdings of US dollars but has failed to make good on that promise.

Tethers bank, Deltec Bank & Trust, released a letter verifying the company held $1.8 billion.

At press time, Tether’s market capitalization totaled $2,272,632,612, according to CoinPaprika.com

Justin Sun
Justin Sun, Founder of TRON (TRX)

“COLLABORATION WITH TETHER TO BRING A USDT TRC-20 TOKEN TO TRON WILL BRING INCREDIBLE STABILITY AND CONFIDENCE TO USERS,” SAID JUSTIN SUN CEO OF TRON.

These users will be able to “easily redeem their tokens for U.S. dollars,” he added.

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