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New crypto payments: Tether (ERC-20 & TRC-20)

Publish Date 05 Oct 2022
Company News / 2 Min Read
Axi Team / Last Update 05 Oct 2022

Axi is pleased to announce the latest addition to our expanding crypto services, with leading crypto coin Tether now available as a payment and transaction option for clients, through the support of the ERC-20 (Ethereum) and TRC-20 (TRON) tokens.  

Tether (USDT) is a stablecoin that is pegged to the US Dollar. It is currently the world’s largest stablecoin, with a market capitalization of nearly $83 billion. As of May 2022, Tether was the third largest cryptocurrency, after Bitcoin & Ethereum.

The decision to support Tether with both ERC-20 and TRC-20 networks makes Axi one of a select number of brokers offering the dual payment options to and from client accounts. 

Says Louis Cooper, Chief Commercial Officer at Axi, “We’ve been doing a lot in the crypto space recently around the addition of new Crypto CFD products, so the addition of new crypto payment options is a natural next step”.  

In a lot of ways, USDT ERC-20 and USDT TRC-20 are like a crypto version of VISA or Mastercard. They both serve the same purpose in making payments, but there are subtle differences in the networks which people prefer for different reasons. Having them both available simply gives our clients more choice. 

At this stage, most people are still new to crypto payments, so we’re putting a lot of focus on helping educate our clients about what having this new option means for them and the potential benefits, such as faster payments and low transfer costs.   

In addition to Tether payments, Axi also supports crypto payments in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM), and Litecoin (LTC).  

Says Louis Cooper, “The wider availability and accessibility of cryptocurrencies is moving at pace, and with our suite of products and payment options we’re well positioned to continue growing alongside the exciting new developments in digital currencies”. 

 

Read more: How to deposit Tether USDT (TRC-20 & ERC-20)


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