Huobi Global, OKEx launch support for Tron-based stablecoin

Wednesday 27 March 2019 00:08 CET | News

Crypto exchanges Singapore-based Huobi Global and Malta-based OKEx have announced their support for the Tron-based version of stablecoin Tether.

In early March 2019, blockchain protocol Tron (TRX) and Tether – issuer of stalwart stablecoins USDT and EURT –partnered to issue a TRC-20-based USDT. This term indicates adherence to a technical token standard supported by the Tron blockchain. As such, the new token aims to be interoperable with all Tron-based protocols and decentralised applications, in order to improve liquidity in the ecosystem.

Huobi Global and OKEx revealed user needs and demands for a full spectrum of stablecoin trading, and noted that their platforms now support three separate protocol versions of USDT: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-TRON. While both companies are centralised crypto exchanges, Tron and Tether have emphasised that the beneficiaries of USDT-TRON are intended to be traders on Tron-powered Decentralised Exchanges (DEX).

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Keywords: cryptocurrency, exchanges, Huobi Global, OKex, launch, TRON, stablecoin, Tether, Malta, Singapore, Token, decentralised applications, centralised exchanges, trading, blockchain
Countries: World