Tron is the designated national blockchain infrastructure of the Caribbean island nation.
Cryptocurrency exchange Huobi announced the launch of the world’s first national token, DMC and Dominica DID, under the authorization of the government of the Commonwealth of Dominica. For the project, Huobi tapped Tron Network and DMC Labs., both Dominica DID and DMC were originally issued on the Tron Network. Support cross-chain interaction with Ethereum, BSC, and other public chains via the BitTorrent Chain protocol will be rolled out.
This comes after Tron entered into an agreement with the Dominican government to roll out a national fan token in a bid to promote the island’s heritage and tourism.The TRC 20 standard Dominica Coin will be issued for sale through Huobi Prime. With the help of Dominica DIDs, users can complete identity verification on the crypto exchange.
Huobi representatives recently met with the Prime Minister of the Dominican Republic to talk about how the crypto exchangeto enhance the infrastructure in the country by relocating 200 out of 1,600 employees to its new headquarters. The move would mark the latest instance of a crypto exchange moving from Asia to the Caribbean in search of a friendlier regulatory environment.
Currently, Huobi has offices in Hong Kong, South Korea, Japan, and the United States, with its headquarters in the Seychelles Islands.
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