Carbon is the first fiat-backed stablecoin to launch on TRON

TRON partnered with Carbon, a New York City-based startup, to launch the first fiat-backed stablecoin on the network.

TRON announced that Carbon's "TRXD" would be the first stablecoin to launch on the TRON blockchain.

The move is meant to reduce the friction for payments for in-app purchases on the TRON network.

"We are excited to collaborate with all partners to launch user-friendly stablecoins on TRON. These are important milestones for making TRON more accessible to mainstream users."

Unlike Tether's USDT, which is difficult if not impossible to redeem, users can purchase and redeem TRXD on TRON via the Carbon website.

"Our goal is to build products that people use. TRON shares an unwavering loyalty to both growth and adoption. We're excited to join forces to bring stability to a more mainstream audience in launching a fully fiat-backed stablecoin on TRON.".

In March, TRON announced it would partner with Tether to create a "TRC20" based fiat-backed USDT on its platform.

CryptoSlate reached out to Sam Trautwein on what differentiates Carbon from other stablecoins.

"Most groups the plan is to try and get to a couple billion in stablecoin and camp on interest you make off it. For us, we're okay offering stablecoins at a loss, indefinitely, as we invest more heavily in solving the more immediate problems in the space."

Elaborating on what those "More immediate" problems are, those are the fiat on-ramps and conversion gateways between fiat and cryptocurrency.