#Plasma Tether/Bitfinex: The largest stakeholder. The purpose of the USDT issuer supporting Plasma is to:
Challenge Tron (which currently accounts for ~28% of USDT transfer volume) with zero-fee transfers.
Establish a native USDT chain to reduce dependence on other chains.
@Plasma It is still a bit difficult to shake the TRON chain, after all, the Tron chain has its unique advantages:
If you ask any "old veteran" in the crypto circle why they prefer to use Tron instead of Ethereum for transfers, they will tell you: cheap, fast. But if you ask an operator from an underground money house in Chaoshan, they will give you a deeper answer: Ethereum is too expensive, Bitcoin is too slow, Base and BNB are too centralized, and Solana is too easy to track....
For a "fleet" that has to handle thousands of small transfers every day, the low Gas fees of TRC-20 and breaking the tracking chain are key. More importantly, Asian exchanges (like Huobi, Binance, OKX) all support the liquidity of TRC-20. This makes USDT the actual settlement currency for underground money houses. $XPL
Challenge Tron (which currently accounts for ~28% of USDT transfer volume) with zero-fee transfers.
Establish a native USDT chain to reduce dependence on other chains.
@Plasma It is still a bit difficult to shake the TRON chain, after all, the Tron chain has its unique advantages:
If you ask any "old veteran" in the crypto circle why they prefer to use Tron instead of Ethereum for transfers, they will tell you: cheap, fast. But if you ask an operator from an underground money house in Chaoshan, they will give you a deeper answer: Ethereum is too expensive, Bitcoin is too slow, Base and BNB are too centralized, and Solana is too easy to track....
For a "fleet" that has to handle thousands of small transfers every day, the low Gas fees of TRC-20 and breaking the tracking chain are key. More importantly, Asian exchanges (like Huobi, Binance, OKX) all support the liquidity of TRC-20. This makes USDT the actual settlement currency for underground money houses. $XPL