Bitget Partners With Tron, Acquires $10 Million in TRX

Bitget, a cryptocurrency exchange and Web3 company announced a partnership with Tron, a blockchain network known for its role in onchain settlement.

Bitget Joins Forces With Tron

According to the news shared with Bitcoin.com News, the collaboration includes Bitget‘s $10 million purchase of Tron’s native token, TRX. The Seychelles-based exchange cited Tron’s extensive adoption as a driving factor for the partnership.

Presently, Tron’s network supports over 279 million user accounts and processes more than $10 billion in average daily onchain transactions. It is widely used for tether (USDT) stablecoin payments, with a focus on providing low-cost and fast transactions.

Gracy Chen, CEO of Bitget, described the collaboration as a means to deliver added value to the blockchain community. Tron founder Justin Sun also highlighted the potential for shared growth, expressing optimism about Tron’s increased accessibility and developer empowerment through this partnership.

“I am excited about our strategic collaboration with Bitget to support ecosystem growth,” Sun remarked. “I look forward to seeing Tron collaborate more closely with Bitget to empower developers, foster further growth, and make Tron more accessible for everyone.”

The firm says that the collaboration aligns with both organizations’ goals to expand the accessibility and affordability of blockchain technology globally. This strategic move also reflects broader trends in the cryptocurrency sector, where partnerships between platforms aim to enhance interoperability and drive user growth.