To make the T3 Financial Crime Unit (T3 FCU), Tether, the company that makes the USDT stablecoin, worked with the Tron blockchain network and the blockchain intelligence company TRM Labs. By making it easier for the government and businesses to work together, this project wants to stop illegal activities that involve USDT transfers on the Tron blockchain.
T3 FCU uses TRM Labs’ knowledge of anti-financial crime analytics and Tron’s technology skills to find and stop transactions linked to illegal activities like terrorism, cybercrime, fraud, hacking, and getting around sanctions. The outside research team at Tether will also be working on this project to help make the blockchain space safer.
Since it began, the T3 FCU has come a long way. It has helped the police seize over $12 million in USDT linked to scams involving blackmail, fake investments, and other illegal activities.
With $60.8 billion in circulating USDT, Tron has the most USDT transfers of any cryptocurrency and is a good candidate for this job. This is 51% of all the USDT that exists in the world. This makes Tron an important part of keeping stablecoin operations safe and honest.
Mr. Justin Sun, the founder and CEO of Tron, said that this partnership makes it clear that illegal activities are not wanted in the blockchain niche. He said that he was sure the partnership would show how blockchain technology can be used to make the banking system safer.
At the same time, rivals like USDC have moved away from Tron. Dollar stopped backing the Tron network in early 2024, saying that it was committed to safety and openness. The decision was made after the UN released a study that showed how USDT helped move money in Southeast Asia, especially on the Tron network.
Even with these worries, Tether has kept making USDT on Tron, releasing more than $10 billion since February 2024. The company is still dedicated to making the blockchain safer and more compliant, and it reiterates its support for the Tron network.
