We are excited to announce that StraitsX users can now leverage the Tron network for USDT transactions via the StraitsX platform! As part of our ongoing commitment to provide our users with more network options for their transactions, the integration of USDT (TRC-20) transactions via the StraitsX platform will offer greater cost-efficiency, with fixed transaction fees as low as 0.5 USDT for deposits and 2 USDT for withdrawals. 

What is USDT (TRC-20)?

USDT (TRC-20) refers to USDT issued by Tether on the Tron network. Transactions involving blockchain Transfer In and Transfer Out are conducted through Tron addresses. USDT (TRC-20) utilises the TRC-20 protocol, a technical standard used for smart contracts on the Tron blockchain, allowing for the creation of fungible tokens that can be transferred between accounts and used for various applications.

Why USDT (TRC20)?

Tron is recognised as one of the most popular networks for USDT transactions globally.

1. Faster Transactions: The Tron network is capable of handling up to 2,000 transactions per second (TPS). This high throughput serves as one of Tron’s key advantages especially when compared to other blockchain networks like Ethereum, which handles around 15 TPS at the moment
2. Lower Transaction Fees: USDT (Tron) transactions via the StraitsX platform are fixed at 0.5 USDT for Blockchain Transfer In and 2 USDT for Blockchain Transfer Out. StraitsX will continue to cover any network fees in excess of this fixed fee. 

What This Means for You:

• Transfer USDT (Tron) seamlessly. Transfer your USDT (Tron) funds to and from your preferred blockchain wallet addresses with ease
• Swap USDT with USDC directly on our platform, providing you with more flexibility and options for your transactions

At StraitsX, we are committed to continuously expand our supported stablecoins and blockchain networks. Our goal is to provide you with the best options to meet your DeFi needs and enhance your experience on our platform. Watch this space for more updates on new stablecoin and network integrations!

About the Tron network

Tron is a  Layer 1 blockchain maintained by the Tron Dao, an organisation dedicated to accelerating the decentralisation of the Internet via blockchain technology and decentralised applications (DApps). The Tron network has gained incredible traction since its inception in 2017, hosting the largest circulating supply of stablecoins and overtaking USDT (Ethereum) in April 2021.

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