Collaborations in the cryptocurrency industry are seen as a framework for future market adoptions. Tron, a Justin Sun-founded cryptocurrency company, was one of the big examples of an organization taking partnerships seriously.
On May 12, Sun announced that USDT based TRX will be available for trade on CryptoLocally. The famous cryptocurrency exchange has been in the news many times recently for its efforts to integrate multiple digital assets.
CryptoLocally said they will have the quickest and easiest way to buy and sell TRX with fiat currency or alternative methods. Customers will use a non-custodial service where they have full control of their funds. Sources close to CryptoLocally disclosed that the company capitalizes on blockchain technology for all on-chain transactions.
The holders of Tron have been informed that they will be able to begin trading as soon as they complete their registration. According to the official release:
“CryptoLocally is a private trading platform and does not require KYC verification. This is on top of having one of the widest selection of fiat payment methods which include online and offline settlements.Some of the fiat payment options include but are not limited to bank transfers, local currencies, cash deposits, international wires, Venmo, WechatPay, Toss, Kakao pay, Cash App, SEPA Transfers, TransferWise, Mercado Pago, Paypal and more.”
Users of the CryptoLocally platform would have the ability to skip over the tiresome process of purchasing Bitcoin or Ethereum to trade Tron. Direct TRX-fiat transactions ensures that investors can escape excessive transaction fees and long processing periods for confirmations. CryptoLocally hoped that the so-called ‘Tronics’ would increase the number of TRX transactions on the network as the days go by.
Tron joins the CryptoLocal roster, which includes assets such as EOS, USDT and BNB. According to the company, users also have the option to arrange transactions in persons irrespective of whether they were buying or selling. CryptoLocally acknowledged that Tron’s approach to solving various problems in cryptocurrency space was an encouraging factor.
Sun and the Tron Foundation would still be searching for significant improvements as TRX struggled to ascend the charts. At press time, Tron was in 17th position when trading for $0.015. The market cap was down to $986.6 million, while the 24-hour market value was $1.64 billion. It was a steep fall for the cryptocurrency that used to hang around the 10th or 11th position.
The CEO of Tron could, however, rejoice in the fact that his latest stablecoin JUST had sold off to Polniex in less than 5 minutes. The JUST token has a ratio of 1:1 to the dollar and a second batch release is expected soon.