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OKEx and Huobi Global support USDT

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Two major crypto exchanges: Huobi Global (headquarters in Singapore) and OKEx (Malta-based) have announced that the Tron-based version of stablecoin Tether has gained their support. This was made known to the general public through two official announcements which were published on 21st of March.

 

In early March, Tether and Tron (TRX) issuer of Stalwart stablecoins EURT and USDT, announced that they have formed a partnership to issue a TRC-20-based USDT – a term which has to do with adhering to a technical token standard which the Tron blockchain supports. To improve liquidity in the ecosystem, this newly designed token is interoperable with all Tron-based protocols and decentralized applications (dApps).

 

Both Huobi Global and OKEx cite user requires a full spectrum for stablecoin trading, with both indicating that their platforms now support three different USDT protocol versions: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20 and the new USDT-TRON.

Both OKEx and Huobi are ranked among the leading centralized crypto exchanges in the world taking 3rd and 14th place respectively by adjusted daily trade volume to press time.

Other developments made by Tron include a suggestion made by Misha Lederman, the co-founder of IamDecentralized.org (a Tron community project), that the USDT-TRON launch is slated for the coming weeks and months of the second quarter of the year. Another development which was also reported is privacy options introduction for TRX blockchain transactions and institutional-friendly multi-signature & account management.

 

Lederman also claims that within this time frame, the BitTorrent Speed ecosystem will launch; and with this, users will be rewarded of the popular peer-to-peer torrent client BitTorrent with Tron-based BitTorrent (BTT) tokens in exchange for seeding and bandwidth, making it possible for torrent downloads to be done faster.

According to reports, Tron first confirmed that it has acquired BitTorrent in July last year. In the beginning of 2019, BitTorrent launched its native BTT token, which will power the pair’s plans for an evolving decentralized content distribution platform.

 

Recently, Tether has been heavily scrutinized after users noticed that the coin’s issuer had removed previous claims that the stablecoin was fully backed by United States dollars. The coin has faced controversy for long, after critics suggested that the amount of tokens in circulation didn’t match the dollar reserves. In December last year, Bloomberg revealed that it believes Tether lacks the required amount of fiat reserves. Till date, Tether is yet to release an official audit of its holdings. 

 

 

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