Tether on Tron (TRC-20) is the third variant of the world’s predominant stablecoin to be supported on Cash2VN.
Tron managed to capture a large part of the Asian exchange market via early strategic partnerships with key exchanges in the region – thereby increasingly replacing the usage of the Ethereum blockchain.
Tron Founder Justin Sun’s approach to significantly tip the balance of trade-offs towards more centralization in favour of faster processing speeds has paid off so far for his venture.
“For small remittances the expensive transaction fees on the Ethereum chain price most users out right away.
While we have adopted USDT via the Simpleledger standard a while ago, the data clearly show that USDT on the Tron blockchain is currently the preferred means to transfer USDT on a retail level, so we followed the market demand by integrating it into our services.”
USDT is the world’s dominant stablecoin with an issuance of over 70 billion USD, ahead of the Coinbase-Circle-powered USDC with about 30 billion USD issuance.
Cash2VN allows for limitless remittances to Vietnam – recipients are able to receive VND into their domestic bank accounts or pick up cash via the partnered Cash Offices in major Vietnamese cities.