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Huobi Global and OKEx Launches USDT -TRON Support

Huobi Global | OKEx | USDT -TRON | Tron | Tether | Cryptocurrency Exchange

Singapore-headquartered Huobi Global and Malta-based OKEx, two of the major crypto exchanges of the ecosystem have announced support for the Tron-based version of stablecoin Tether.

Both Huobi Global and OKEx, have made two separate announcements for the development on March 21. It was earlier in March, that Tron (TRX) and Tether announced their collaboration to issue a TRC-20-based USDT, a technical token standard supported by the Tron blockchain.

“https://twitter.com/Tronfoundation/status/1109051513337344001

Designed to be interoperable with all Tron-based protocols and dApps, the new token is basically aimed at improving liquidity in the ecosystem. Huobi Global and OKEx have cited consumer needs and demands for a full spectrum of stablecoin trading, in their respective announcements. Both also note that their platforms now hosts three separate protocol versions of USDT

  • the Bitcoin network-based USDT-Omni,
  • Ethereum-powered USDT- ERC-20 and
  • The newly added USDT – TRON

As per the adjusted daily trade volume, OKEx and Huobi are amongst the world’s leading centralized crypto exchanges, ranked 3rd and 14th respectively at the press time.

Notably, OKEx launched added Tron to its Customer-to-Customer Trading Platform just at the start of the month.

USDT-TRON

Tether, the issuer of stalwart stablecoins USDT and EURT blockchain protocol, and Tron have explained that the beneficiaries of USDT-TRON are intended to be traders on Tron-powered Decentralised Exchanges (DEX).

As per a Tweet by Misha Lederman, blockchain consultant and co-founder of Tron community project IamDecentralized.org on March 20, the USDT-TRON launch is slated for the coming weeks and months of Q2.

As for Tether latest news, the coin’s issuer is facing an aggravated backlash after social media users observed that the firm had removed its previous claims Tether being fully backed by United States dollars.  The long-standing controversy further intensified when the critics asserted that the dollar reserves did not match the number of tokens in circulation.

Bloomberg reported last year in December, that it believes Tether does have the appropriate amount of fiat reserves. Notably,  Tether has not released an official audit of its holdings to date.

Read more:AriseBank CEO Pleads Guilty to $4.2 Million Securities Fraud Involving ICO

Image Source: TRON Twitter

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