Tron (TRX)’s Pairing with Rupiah to Be Listed on Indodax
Tron has officially made it to 98 different exchanges, making Indodax, Indonesia’s largest cryptocurrency exchange, its latest addition. The news was announced by Justin Sun, CEO of Tron, via Twitter, where he stated that the TRX/Rupiah pairing will be available for trading, starting June 5th, 2018 at 15:00 WIB, with the entire deposit to start as early as tomorrow.
Indodax’s decision to welcome TRX into their exchange was based solely on the fact that TRX is part of the “top 50 of CoinMarketCap (ranked 10th).” To them, this shows that a sound community already exists and that the exchange does not need to take extra measures to implement coin votings.
— Justin Sun (@justinsuntron) June 3, 2018
In addition, the exchange is well known for introducing several other well-established coins like that of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) – all of which are either paired with BTC and/or Rupiah. Hence, their addition of TRX, is definitely a benefit on their behalf.
Many believe that Indodax can easily overtake the country’s stock exchange, as its growth has been substantial. Mainly, the exchange is said to have and continues to process over $20 million worth of crypto on daily basis, which is significantly larger than the Indonesia Stock Exchanges’ registered users.
While TRX’s welcoming has many surprised and excited, some might be confused, as the Governor of Bank Indonesia, Agus Martowardojo placed a ban on crypto usage in December 2017. The decision was made simply to protect the country’s Rupiah against any potential competition.
However, according to the Nikkei Asian Review, it is believed that the ban was only placed on real-time use or as a mean of exchange, and not necessarily on trading or mining. This is definitely concerning, as the ultimate goal of cryptos is to bring a purpose to society and to eventually introduce it as a sound currency.
Regardless, Tron, which was originally built on Ethereum platform, has recently announced that it will be moving its tokens to its own blockchain. In the meantime, a public testing is set to happen on June 25th, 2018.
Clearly, Sun and his team are taking big steps into introducing TRX on a global scale. With its listing on the Indodax, it is certain to induce an Asian exposure!