Tether (USDT) has announced they will be launching their dollar-pegged stablecoin on the TRON blockchain.
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“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,” said Tether CEO Jean-Louis van der Velde.
The new update is expected to go live in the second quarter 2019.
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 $2,045,675,966, according to CoinPaprika.com
“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.