Carbon “TRXD” is the first stablecoin to be launch on the TRON blockchain network. The TRXD will be backed one to one by the US dollars and be FDIC-insured. The partnership will aid seamless payments for in-app purchases on the TRON network.
CEO of BitTorrent and Founder of TRON network, Justin Sun, confirmed the partnership in a statement: ” We are excited to collaborate with all partners to launch user-friendly stablecoins on TRON. These are important milestones for making TRON more accessible to mainstream users.”
Carbon Stablecoin is not the same as other stablecoins
Co-founder and CEO of Carbon Sam Trautwein said: “Our goal is to build products that people use. TRON shares an unwavering loyalty to both growth and adoption. We’re excited to join forces to bring stability to a more mainstream audience in launching a fully fiat-backed stablecoin on TRON.”
TRON network in April, announced a partnership with Tether USDT to produce a “TRC20” based-backed USDT on its platform. However, the partnership went south when the parent company of Tether, iFinex, was involved in a $850million scandal.
Speaking with Trautwein on the difference between Carbon and other stablecoins, he said: “Most groups the plan is to try and get to a couple billion in stablecoin and camp on interest you make off it. For us, we’re okay offering stablecoins at a loss, indefinitely, as we invest more heavily in solving the more immediate problems in the space.”
Throwing more light on the “more immediate” problems, he said they are the fiat on-ramps and conversion gateways between fiat and cryptocurrency.
In his words: “We want to give everyone in the space is the ability to move fiat and digital assets anywhere [in crypto]. Any dApp, wallet, or exchange, without having to go through KYC more than once, without having to wait 10 days for funds to clear, without having to go to your bank and commit a wire transfer. We want to give crypto to where people are now.”