TRON Claims Stablecoin Supremacy as TUSD Joins $6.4B of USDT Onchain – ihodl.com

TRON is fast becoming the home of stablecoins, having gained more market share than any other layer-1 this year for dollar issuance. The $6.4 billion of USDT that arrived onchain as a TRC-20 asset was the highlight of an action-packed year for TRON that included partnerships with Samsung and Huawei, the Steemit takeover and BitTorrent File System launch. TRON’s evolution into a crypto later for dollar settlement was arguably the biggest breakthrough, though, forming a scalable network for USD-pegged payment routing. On December 18, Tether revealed that it had reached the symbolic market cap of $20 billion, in what’s been a record-breaking year for stablecoin growth.

Tether Unleashed as TRC-20

Omni, developer of the USDT stablecoin, had already migrated the bulk of its stablecoins to Ethereum from its own blockchain to capitalize on ETH’s network effects and burgeoning DeFi scene. As Ethereum fees began to rise in 2020, however, it became clear that a cheaper alternative was needed to route billions of dollars of fiat-denominated assets. TRON was the natural candidate, not just on account of its low-fee environment and higher throughput, but its strong ecosystem of dApps, which have now surpassed a daily transaction volume of $12 million.

Throw in JustSwap, the AMM TRON launched for decentralized token swaps, and the release of WBTC on TRON, and Tether’s
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