The Tron Foundation announced the news in a press release published Wednesday, March 25. The native of Tron Network TRX will integrated into Metal Pay’s mobile application enabling TRX user in the United States to purchase the token using fiat currency by debit card or a linked bank checking account.
According to the announcement, TRX users can also earn up to 5% cashback in MTL, Metal Pay’s native token, on eligible transactions for sending and receiving USD using the Metal Pay app. US citizens can purchase TRX instantly when paying with Visa card. Metal Pay’s mobile app also enables crypto-to-crypto conversions between the 20+ cryptocurrencies it supports. This means users can swap TRX with other digital assets such as BTC, ETH, and MTL.
Tron Foundation said:
“The TRON network’s high throughput, low-cost transactions, and low barriers to entry have exposed millions of users to cryptocurrency for the first time. Metal Pay’s integration will further extend these benefits to a growing global audience, while further demonstrating the versatility of cryptocurrency.”
Metal Pay is a next generation Venmo or PayPal that provides fiat-to-crypto on-ramp services. It is designed to be usable by people who are completely unfamiliar with cryptocurrency as it allows people to instantly send money to friends and family with just a phone number. The company also rewards user with its native MLT token for each eligible transaction they make. The rewarded MLT then could converted into dollars or sent to another Metal Pay user.
Marshall Hayner, founder and CEO of Metal Pay, on the partnership, commented:
“TRON’s addition to Metal Pay provides their community with a bold new DeFi platform. Home to a variety of developers, dApps, and more, the products that Metal is building will accelerate the growth of the cryptocurrency ecosystem. I believe that TRON shows incredible promise for blockchain technology and decentralized systems, and I’m excited about the chance to work with them as we build the future.”
Justin Sun, CEO and founder of the Tron Network, stated:
“Whether it be for users or developers, we care about convenience before everything. We will always serve our community by providing users with secure, fast, and simple access to TRX. With Metal Pay, we have created the fastest TRX transaction infrastructure while maintaining world-class security.”
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