issuance

Data: TRC20-USDT issuance exceeds 70 billion, increasing to 70.7 billion

ChainCatcher news, latest news, the issuance of TRC20-USDT has increased to 70.7 billion, officially breaking the 70 billion mark. Since the beginning of this year, the TRON network has cumulatively issued nearly 11 billion USDT. As of now, TRC20-USDT accounts for 48.6% of the total issuance of USDT across the network, with the number of holding accounts reaching 64.47 million and the total number of transfers exceeding 2.458 billion.TRON founder Justin Sun posted on the X platform, stating that the circulation of USDT on the TRON network has surpassed 70 billion USD, marking a significant milestone and a miracle created by everyone in the entire crypto community. In addition, the Web3 e-commerce platform Uquid recently stated that 85% of African users have given the TRON network a five-star rating, claiming that the stablecoins on TRON provide a stable and low-cost payment experience that local payment systems cannot match.It is reported that TRC20-USDT is a dollar-pegged stablecoin issued by Tether on the TRON network, characterized by fast transfer speeds and low fees, which have attracted a large number of users. It is already supported by several exchanges including Binance, HTX, OKX, Bitfinex, MEXC, KuCoin, Gate.io, and Poloniex. The TRC20 version of USDT will significantly enhance the existing decentralized application ecosystem on TRON, bringing higher overall value storage and stronger liquidity for decentralized exchanges, while providing enterprise-level partners and institutional investors with a more convenient blockchain entry.

Hong Kong Monetary Authority: Establishing a regulatory framework for stablecoin issuance, expected to be approved in the coming months

ChainCatcher news, according to the Hong Kong Wen Wei Po report, the Vice President of the Hong Kong Monetary Authority, Chen Weimin, stated that a regulatory framework is being established for the issuance of stablecoins, laying the foundation for the development of the cryptocurrency ecosystem. Hong Kong has made good progress in developing stablecoins, with relevant legislation currently under review by the Legislative Council, and it is expected to pass in the coming months. The Hong Kong Monetary Authority is carefully examining the potential operational risks of stablecoins, including the management of reserve assets, liquidity, and anti-money laundering (AML), to ensure that licensed issuers can effectively manage risks and that their business models are sustainable.Chen Weimin also mentioned that Hong Kong has long established a roadmap for the development of virtual assets, with clear division of responsibilities between the authorities and the Hong Kong Securities and Futures Commission. The goal is to develop Hong Kong into a leading cryptocurrency center. In recent years, Hong Kong has been developing central bank digital currency (CBDC), believing that CBDC can facilitate more efficient and lower-cost cross-border payments, which will help promote cross-border trade and explore the potential of tokenization.
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