Tether teams up with TRON and TRM Labs to combat USDT crime
Tether is teaming up with TRM Labs and TRON to form a T3 Financial Crime Unit to combat the illicit use of its USDT stablecoin on the TRON blockchain, according to a Sept. 10 statement shared with CryptoSlate.
Over the past year, global authorities have raised alarms about the illegal use of USDT on TRON. In January, the UN highlighted a surge in fraudulent transactions involving USDT, particularly in Southeast Asia, and labeled TRON as a preferred network for such illicit activitiesTether and TRON pushed back against these claims.
Yet, market insiders point to a double-edged sword. USDT on TRON has one of the cheapest fees in the market and is also very easy to use. These perks inadvertently appeal to honest users and crooks who use them for illegal activities.
Justin Sun, the founder of TRON, acknowledged this, noting that the new collaboration will demonstrate the positive potential of blockchain technology and signal that illegal activities will not be tolerated in the industry.
Paolo Ardoino, CEO of Tether, emphasized that the company was committed to taking proactive steps to uphold security and trust within the ecosystem.
Data from Tether shows that nearly half of its $118 billion USDT supply is on the TRON blockchain, with around 39% on Ethereum.
Advancing crypto education
In a parallel development, Tether is advancing its educational initiatives through a partnership with Celo-based P2P payments firm Valora and the Stabila Foundation, according to a Sept. 10 statement.
This collaboration aims to promote the adoption of blockchain technology through an educational program focused on stablecoins. The partnership will highlight USDTs practical applications on Celo, a low-cost, fast-growing Ethereum Layer 2 solution. The program will cover use cases such as remittances, payments, value storage, yield earning, and staking.
The Valora Learning Program will target emerging markets in Nigeria, South Africa, Brazil, Turkey, and Vietnam. Participants will use the Valora app to demonstrate stablecoin usage and gain hands-on experience while earning rewards through the Valora wallet.
Ardoino noted that this initiative would revolutionize financial interactions in underserved communities. He added:
This collaboration with Valora on Celo allows individuals to experience the power of stablecoin technology in real-world, everyday situations, empowering them to confidently and effortlessly participate in the global economy.
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Text source: CryptoSlate
