Justin Sun Launches the World’s Third Cryptocurrency ETN

Time Stamp: September 23, 2021 3:06 PM
Source Node: 1090632

Justin Sun, founder of TRON, published an open letter to the community on September 20, 2021, regarding the upcoming listing of TRX ETN in 14 EU countries including Germany, France, the Netherlands and Switzerland.

According to the letter, VanEck TRX ETN (VTRX) has been officially approved by Deutsche Börse Group and is available for trading on Xetra from September 21, 2021.

The approval from Germany will exempt VTRX from the approval of other EU regulatory authorities, and VTRX will be listed as compliant security in 14 countries including Germany, France, the Netherlands and Switzerland.

This marks TRX (VTRX) as the third mainstream cryptocurrency – after Bitcoin and Ether – that has been listed on the traditional financial market of Europe.

Justin Sun introduced blockchain as a ‘value network’ to China in 2012, which established him as an early evangelist and practitioner of blockchain. Later in 2017, he founded TRON.

Today, TRON has built a comprehensive ecosystem spanning from underlying protocols and smart contracts, to NFT and metadata storage, boasting over 54 million users and $50 billion worth of crypto assets across the globe.

Moreover, the TRON-based USDT (TRC20-USDT), with a circulating supply as high as $36 billion, is now the world’s largest stablecoin in circulation, accounting for more than 50% of the global market.

Not long ago, TRON also inked a strategic partnership with Valkyrie Investments to launch Valkyrie TRON Trust. As the first institutional fund targeting TRON’s crypto ecosystem in the US, the initial size of this trust is over $50 million, and it plans to file to go public in 2022.

Justin Sun also announced in his latest open letter to the community that BTTC, a layer 2 scaling and cross-chain solution, is scheduled for launch on October 30, 2021.

By then, a closed loop of both layer 1 and 2 networks with sound cross-chain connectivity will take shape, delivering both a robust underlying network of global settlement layer and a heterogeneous, scalable cross-chain network – BitTorrent Chain – that features high throughput and full compatibility with EVM. This solution will usher in a new era of connecting all chains.

According to available resources, the listing of VTRX has been stringently reviewed and approved by Deutsche Börse Xetra, fully complying with the financial regulatory requirements in Europe.

Further, with the support of Clearstream under Deutsche Börse Group, TRX ETN is expected to be available for trading in the pan-European market on major European exchanges in London, Paris, Amsterdam and more.

This marks another milestone of TRON – the forerunner in the global public chain sphere – in pursuing globalization and compliance under Justin Sun’s leadership.

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Source: https://dailyhodl.com/2021/09/23/justin-sun-launches-the-worlds-third-cryptocurrency-etn/

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