[TRON's listing is not just a "micro-strategy" parody show, but a stablecoin version of the "Visa IPO" moment? 】 Recently, #TRON announced that it intends to establish Tron Inc for public listing through a reverse merger with NASDAQ-listed company #SRMEntertainment, which has sparked heated discussions in the market. While many have simply likened this move to a "crypto microstrategy", it would be a serious underestimation of TRON's significance in stablecoin payment networks. This may not be a simple capital move, but a major outpouring of crypto infrastructure: TRON is poised to become the "Visa" of the stablecoin world – and in an investable form in traditional financial markets. 1. TRON: The most active underlying network for stablecoin trading in the world At the on-chain transaction level, the TRON network carries more than 30% of the world's stablecoin trading volume, and USDT circulation is far ahead. A large number of cross-border payments, remittances, C2C OTC and grey foreign exchange transactions are increasingly concentrated on the TRON network. According to CoinMetrics and CoinGecko data, the number of USDT daily active addresses, transactions, and amount on the TRON network are much higher than those of Ethereum and Solana. Especially in Latin America, the Middle East, Africa and other regions where traditional financial infrastructure is not perfect, TRON+USDT has become the "new dollar" for private payment and asset preservation. As market analyst Sam Reynolds (@thesamreynolds) puts it: "Tron + USDT is the same for South America and other emerging markets as Visa and Mastercard in the West, or Alipay and WeChat Pay in China." 2. It's not about issuing coins, it's about operating the network: TRON's structural advantages over Circle At present, there are two core participants in the stablecoin market: one is the issuer (such as Circle's USDC) and the other is the operating network (such as TRON). The revenue paths of the two are completely different: (1) Issuers such as Circle rely on asset custody interest margins, but are limited in terms of on-chain transaction frequency and infrastructure stickiness; (2) TRON directly controls the public chain itself, can obtain transaction fees and ecological sticky income, and participates in resource regulation through the TRX/energy mechanism. This difference determines that TRON is more like a "payment infrastructure provider" in the traditional sense than Circle. 3. Beyond listing: TRON's ecosystem is building a stable "on-chain country" TRON's potential goes far beyond the payment network, behind which is a complete set of blockchain financial ecosystems that have been commercialised: (1) JustLend and JustStable have built on-chain lending and stablecoin minting systems; (2) SunSwap and PoloniDEX provide on-chain exchange and liquidity support; (3) BitTorrent Chain (BTTC) enables cross-chain asset bridging; (4) More importantly, TRON is one of the few networks that can support large-scale USDT transmission at a very low cost, forming a natural DePIN-level payment channel. The common denominator of all of this is that $TRX ecology is deeply bound to it. 4. HTX: Undervalued "TRON Preferred Equity Holders" The listing of #TRON may not only drive the attention of native assets such as $TRX, but also reshape the market positioning of #HTX exchanges: (1) #HTX has long been one of the main fronts of the TRON Chain ecosystem, with USDT (TRC20) deposits/withdrawals accounting for 70%+ on HTX; (2) Justin Sun's decision-making participation in HTX has enabled the exchange to naturally obtain the priority integration right of TRON-related innovations; (3) With the compliance and brand upgrade of Tron Inc, HTX is expected to become the initial listing platform for "stablecoin asset trading" and "TRON infrastructure assets", reshaping the core value logic of the exchange. Under the multiple regulatory crackdowns of Binance, Coinbase, and Kraken, HTX may be one of the few central platforms that truly embeds TRON, a "new stablecoin payment network", into the trading experience, with first-hand traffic and markets. 5. The listing of Tron Inc is the "Visa IPO" moment in the stablecoin world Through SRM's reverse merger, Tron Inc may not only hold $TRX, but also control a payment chain with a real revenue model. This model is the same as that of Visa and Mastercard: instead of issuing currency, it provides a clearing and settlement network, fee structure and compliance portal, which is more scalable and adaptable. It can be said that this is not a "crypto microstrategy", but a "stablecoin version of Visa IPO". Sixth, the ceiling of TRON is not only Web3, but also points to the rewriting of the global financial structure TRON's move is not just a technical aversion to SEC risk, nor is it simply an imitation of MicroStrategy's "asset wrapping" approach. What it really stands for is: (1) From on-chain transaction networks → cross-border payment infrastructure → global dollar alternative paths; (2) Listing entities from TRON Network → Tron Inc → HTX trading and traffic hubs; and (3) opening up asset pricing power from Web3 closed narrative → to global financial infrastructure. In other words: if BTC is digital gold, then TRON is the digital dollar channel, and HTX is the first exchange to bet on this channel. @justinsuntron @trondao @HTX_Global @HuobiGlobal @HTX_Molly @BitTorrent #TRON #TRONEcoStar #HTX #火币