Swarm to bring security tokens into Tron’s network
Swarm will use the Tron blockchain to allow asset providers to issue security tokens. Swarm is a blockchain company specialized in providing asset tokenization in such a way that the tokens pay dividends for very competitive fees.
The Tron Foundation announced this new development three days ago. The Foundation added that proper licensing and KYC (know your customer) measures implemented will be required of those who want to use the new service.
Swarm is in the business of developing tools that make it easier for customers to get to value in a wide range of assets. Justin Sun (Tron’s founder and CEO for the Tron Foundation and BitTorrent) used his Tweeter account to explain that tokenization through Tron’s technology will enable customers to transact more rapidly and with fewer fees.
Tron’s leader welcomes Swarm
Mr. Sun had good things to say about Swarm. He praised the firm as a leading force in the developing of the world’s digital investment infrastructure. Choosing Tron will give the investment world an option to adopt decentralized technology.
Here are Mr. Sun’s words:
Swarm’s executives also have something to say about the new strategic partnership. The company’s co-founder and CEO, Philipp Pieper, manifested excitement about this new development, singing Tron’s praises because of its commitment to deliver fast, free solutions for all kinds of problems by taking advantage of decentralized technology. Mr. Pieper also said that Tron’s technical specifications make it the perfect network to host its open tokenization technology.
Smart contracts for security tokens will be denominated in USDT-Tron tokens to take advantage of that token’s price stability. The USDT-Tron is also a new development for Tron, the fruit of yet another meaningful strategic partnership with Tether which is moving its stable coin to Tron’s token technology (TRC20) to take advantage of the network’s fast transaction speeds and reliability. But TRX, Tron’s native currency, will not remain out of the arrangement and it will also be available as means to offer security tokens.
Swarm trusts that by joining Tron, it will be able to tap in the Tron’s community interest in security tokens (or create it). Which could be a great success as Tron’s community is among the most active, committed and bullish in the cryptoverse. It’s also a very open community to new developments in the project. Members in the Tron community have expressed excitement about this new venture as well as confidence in its long-term growth and benefits.
Swarm is confident that its partnership with Tron will pave the way for the massive and engaged Tron community to venture into the world of security tokens. The Tron community was excited about this latest development, with most of them very confident about the long-term benefits of the project.
Tron keeps growing and securing significant partnerships that bring all kinds of external interest in the Tron project as well as to the cryptosphere as a whole. Thus the project is building up its fundamentals very solidly, and that will be translated into token value and market capitalization sooner or later.
Image courtesy of Pixabay.
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