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by Lipika Deka
Estonia-based crypto platform Embily has added the support of the TRON network [TRX] for USDC stablecoin. According to the press release, users would recharge their crypto bank cards using the TRON network in USDC at lower network fees.
Apart from that, the funds will be instantly converted into Euros and ready to be used for online and offline purchases or cash withdrawals. Currently, the global payment network accepts BTC, ETH, BNB, TRX, DAI ERC-20, USDT ERC-20/TRC-20/OMNI, and USDC ERC-20/TRC-20.
Commenting on the development, Embily CTO Eugeny Khashin said,
Use of the USDC stablecoin on the TRX network makes it easy for our users to quickly top-up Embily card by leveraging the bandwidth of the Tron network. Like USDT, USDC is a stablecoin, and it has to be supported because of its expansion rate in the DeFi world. We at Embily understand how important it is for our customers to have a choice.
As stated in the blog post, at present, Embily crypto cards are available only for residents based in Europe, the United Kingdom, and immigrants from Ukraine to Europe.
For the year 2022, the firm’s upcoming plan is to expand its foothold into the markets of Singapore and the United States.
Previously, the blockchain payment service firm announced the addition of DAI and USD Coins for card users. While DAI is maintained and regulated by MakerDAO, USD Coin [USDC] is a stable digital coin managed by a consortium called Centre, founded by Circle.
In March this year, the financial infrastructure launched an OTC [Over-the-Counter] Service for businesses and high net worth individuals, enabling those users to buy and sell large amounts of cryptocurrencies from their business accounts.
TRON’s Daily Transaction Count Has Surpassed Ethereum
In terms of the TRON network, the team rolled out a Grant Program to expand the ecosystem for community members, developers, and influencers TronWeekly reported.
Besides that, stats from Etherscan and Tronscan revealed that Ethereum has been hovering between 1 million and 1.3 million transactions per day for about a year and a half, while Tron has been processing more than 3 million over the same period.
In fact, in recent months, Tron’s daily transaction count has risen from 4 million to around 6 million since April. Experts attribute this to traders’ preference for stablecoins due to their less volatility.
