Tether Reveals Its Reserves. Tron Issues $30.9 B in USDT

by in Cryptocurrency News

Tron Tether

On May 13, Tether Holdings, the creator of the stablecoin Tether (USDT) presented the crackup of its reserves done on March 31.

As stated in the report, the stablecoin's reserves are mainly composed of 75.85% cash and equals, then come secured loans, bond certificates, valuable metals, and other investments. Tether is the largest stablecoin and the 6th largest cryptocurrency by market cap which stands at around $57.7 B. The rate of the unit is 1:1 pegged to the US dollar.

The stablecoin is released on over 8 blockchains: Algorand, Bitcoin Cash, EOS, Ethereum, Liquid Network, Omni, Solana, and Tron.

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Tron Foundation CEO Justin Sun informed that the amount of USDTs issued on Tron reached $30.9 B which is the largest. Tron is a blockchain-based decentralized protocol founded in September 2017.

The network has its native token TRX, which trades at around $0.12 and ranks 21st by market cap.

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At the start of this year, the Tron team revealed building TRC-721 for NFTs.