OKEx has Announced Support For USDT-Tron
By Luke Flowers – Crypto Speculator
The forth largest exchange by trading volumes, OKEx, has announced support for the upcoming USDT-Tron coin. This coin is a variation of the Omni Protocol for Tether but is compatible with the Tron network as a TRC-20 token, soon to become listed.
OKEx have stated their willingness to meet users’ demand for stablecoin trading to buy and sell cryptocurrency and shows this with the latest announcement. This mean OKEx will support three iterations of the Tether protocol in the forms of USDT-Omni, USDT-ERC20 and now USDT-TRON, providing choice when exchanging Bitcoin and crypto.
The launching of USDT-Tron will increase the liquidity within the Tron economy. This will help increase the volumes traded on the network as every token will have a price in both TRX and fiat. Tokens that trade on the Tron network are currently based on the value of TRX and price swings of this can have an immediate effect. Users of the network will also be able to sell crypto or tokens on the Tron network directly for USDT-Tron reducing their exposure to price volatility.
The majority of Stablecoins have been issued on the Ethereum network and many are hoping for more to be launched. USDT is the first stablecoin to be issued on the Tron network which will help induce crypto selling and buying and lead to the potential introduction of more.
The cryptocurrency economy is constantly increasing in diversity and USDT can branch out into these other blockchains and launch their stablecoin for increased liquidity. The move to launch USDT on Tron is a strong endorsement for network and could help induce buying and selling crypto with greater options to trade.
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