Justin Sun wants Tron (TRX) to be accepted as legal currency in 5 countries. Tron founder Justin Sun announced on January 29 that his new year goal is to ensure adoption of the altcoin project as legal tender in five countries.
Sun gives hints on altcoin project’s adoption of fiat currency
According to Tron inventor Justin Sun, adoption of the asset in five countries could spur wider adoption of cryptocurrency worldwide. Sun states that the goal is “ambitious” but can be achieved with hard work and dedication.
Meanwhile, in a separate tweet on Jan. 28, Justin Sun said that a major country will soon legalize TRX as a legal tender. According to Sun, this move will allow cryptocurrencies in its ecosystem to be ‘recognised by the government as a valid form of payment for goods and services’.
The Tron founder notes that government adoption will increase TRX’s legitimacy and use. It continues that a government’s adoption of a digital currency as a legal means of payment gives the public a sense of trust and security.
What will adoption bring to the altcoin project?
Justin Sun also highlights how adoption will encourage more businesses and traders to accept TRX as a payment option and individuals to become comfortable with spending the token. Based on this, the Tron inventor comes to the following conclusion:
The adoption of TRX will also increase the overall value of TRX as it will increase demand for the currency. With more individuals and businesses willing to use and accept TRX, the demand for the currency will increase, causing its value to rise.
Recently, Tron has gained acceptance among some countries. Accordingly, altcoin St. Accepted as legal tender in Maarten and Dominica. Sun is also Grenada’s ambassador to the World Trade Organization. Meanwhile, Bitcoin already has legal tender status in the Central African Republic and El Salvador.
Advice from Sun to the crypto community
Also, Justin Sun, in a separate tweet on Jan. 29, advises the crypto community not to be ‘too US-centric’. The crypto entrepreneur notes that while the US is a major player in the crypto industry, it is not the only country whose policies are required for the field.
Explaining his views on this subject, Sun states the following:
If 7.7 billion people around the world adopt cryptocurrency as a legal tender, 300 million people in the US will eventually do the same.
The founder of Tron has advised crypto projects to build partnerships and educate with governments and businesses in countries around the world. “Adopting crypto as a legal tender is not just about facilitating the buying and selling of goods and services; It’s about giving people more control over their financial futures,” he adds. Sun also advises the community to stop limiting their focus to a single country when they can focus on the world.
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