Tron, the blockchain-based decentralized internet protocol, will now be available to over 2.2 million businesses globally after signing a partnership with the CoinPayments platform.
Tron founder Justin Sun took to Twitter on August 24, 2018, to announce the partnership:
Over 2.2 Million Businesses and users can now accept $TRX as a payment method! This huge step toward cryptocurrency adoption will support #TRON rapid growth and offer more freedom to the #TRX holders! @CoinPaymentsNET @tronfoundation https://t.co/gY2GY6V4VF
— Justin Sun (@justinsuntron) August 23, 2018
For a sector touted as an integral part of the “Fourth Industrial Revolution,” coin-specific partnerships that promote crypto-adoption and usage could prove to be beneficial for the broader digital asset market.
Not many cryptocurrency companies are creating opportunities for themselves in this regard, with adoption-centric partnerships a scanty feature of the ecosystem.
Strictly speaking, Tron is not a crypto-”currency” in the traditional sense, but functions more like a utility token for dApps built on its internet platform.
CoinPayments highlighted Tron’s features in a blog on August 23, detailing the coin’s history, technicals, impending Virtual Machine launch, and future plans. The company prided on Tron’s upcoming usage as a payments vehicle.
Currently ranked 12 in the world as per market cap, Tron is priced at a meager $0.02 dollars at press time, indicating micro-payments could be much easier to facilitate and faster than traditional cryptocurrencies such as Bitcoin.
For the uninitiated, the Tron platform allows users to pay content producers directly with TRX, its native currency, and the latter group can easily exchange accumulated token to fiat currencies, such as USD, GBP, and EUR, or choose to pay for other services on the Tron platform.
CoinPayments explained their move to add Tron to their rosters:
“TRX is currently accepted in many marketplaces online and offline. Enabling TRX acceptance at an early stage will help merchants reach a vibrant community eager to use TRON tokens.”
The CoinPayments platform serves over 2 million vendors across 182 countries. Using a simple in-app exchange, vendors and customers can easily convert cryptocurrencies into fiat, or choose to hold tokens on an inbuilt secure wallet.