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Blockchain operating firm Tron is set to have its own native stablecoin as early as next month, Founder Justin Sun said in a blog post.
Source: Justin Sun Website
TRX is up 16.25%, while USDT is up 0.01%.
Sun said Tron decentralized autonomous organization partnered with other major blockchain players to roll out the decentralized USD or the USDD, which will be issued and enter circulation on Tron starting May 5, 2022.
The stablecoin will also be made available on Ethereum and BNB Chain through the BTTC cross-chain protocol. Sun said other institutions are also welcome to support the USDD on Tron, Ethereum, and BNB Chain.
Sun said Tron will set the basic risk-free interest rate at 30% per annum, with the end goal to make equitable access to financial services a fundamental human right and become a necessity like water and air moving forward.
Sun noted some $10-billion worth of highly liquid assets generated from initiators of blockchain, which will be used as an “early-stage reserve” to ensure that the exchange rate of the token is kept stable.
Tron has recorded over $4-trillion worth of USDT transactions since it was launched in 2019.
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