Geneva, Switzerland, November 7, 2024 - TRON DAO has launched the TRON-Peg USD Coin on its blockchain, enhancing cross-chain transactions and expanding its stablecoin ecosystem. This new stablecoin facilitates seamless transfers of USDC between Ethereum and TRON.
Qualified users can obtain TRON-Peg USD Coin through a streamlined process: depositing USDC-ERC20 into Ethereum's bridge contract mints an equivalent amount on TRON, which is then sent to the user's TRON address. Users can also transfer TRON-Peg USD Coin back to Ethereum via a designated token contract.
The service is free, with reserves exceeding the total supply, ensuring a 1:1 redemption rate for USDC on Ethereum. Security is prioritized, with a comprehensive audit by ChainSecurity confirming the bridge's integrity.
TRON continues to dominate the stablecoin market, with over one-third of the total supply. As of November 2024, TRON boasts over 270 million user accounts and more than $16 billion in total value locked (TVL), according to TRONSCAN.