Justin Sun’s Open Letter on Deutsche Börse Listing VanEck TRON ETN

Dear fellow Tronics, developers, token holders and friends who care about the progress of TRON:

VanEck TRON ETN (VTRX) has officially cleared approval to list on the Deutsche Börse with trading debut on September 21 on Xetra. Subsequently, VTRX is expected to be available in 14 EU countries, paving the way for access to other major European markets such as Zurich, Paris, and Amsterdam.

Established in 1585, Deutsche Börse is Europe’s largest stock exchange. It has been at the forefront of industry adoption of digital assets as an emerging asset class. The successful listing of VTRX, on the heels of Bitcoin and Ethereum, is a fresh testimony to TRON’s robust crypto ecosystem and its successful drive to expand its global roadmap. It is also a significant milestone in TRON’s effort to keep up with the evolving regulatory environment.

VanEck, founded in 1955 and headquartered in New York City, is a leading global fund management company with total assets under management exceeding US$80 billion as of August 31, 2021, and well-established operations in major international markets such as China, Australia, the Netherlands, Germany, and Switzerland. Its International Investors Gold Fund won the Lipper Fund Award for Best Fund over a 10-year period in the Precious Metals Equity Funds category from 2014 through 2019.

VanEck was among the first asset managers to submit a Bitcoin ETF application to the SEC. It has since launched one of the world’s first Bitcoin ETNs (VBTC) in 2020, followed by an Ethereum ETN (VETH) in 2021. The listing of VTRX following Bitcoin and Ethereum further demonstrates that TRON is gaining market recognition as a leading blockchain platform globally.

“We are excited to launch an ETP on TRX on the heels of its growing network usage and user adoption. ETPs provide high-quality market access, transparency, and robust regulatory frameworks to access digital assets, such as TRX,” said Gabor Gurbacs, Director of Digital Asset Strategy at VanEck.

“Ethereum continues to grow in popularity, but younger platforms such as TRON also offer many advantages, such as lower transaction costs or faster processes, and by adding them to their portfolio, an investor increases the diversification, which lowers the overall risk,” says Martijn Rozemuller, CEO at VanEck Europe.

Since its inception in 2018, TRON has blossomed into one of the largest global blockchain platforms. It is at the forefront of industry adoption of popular smart contracts such as DeFi, stablecoins, NFT and distributed storage protocol etc. TRON enjoys a global audience with about 54 million in total user accounts. It is home to the largest stablecoin circulation (USDT) with more than 50% of global market share and over $50 billion in on-chain crypto assets. In addition, it ranks top-three globally in terms of total value locked in DeFi (TVL) with more than $11 billion at present.

It is our new mission for TRON to become an all-inclusive global settlement layer for next-generation payment solutions. We have already led the industry competition in cross border P2P transactions, beating PayPal volume by more than 5x (YTD), a remarkable achievement in such a short order of less than two years since TRC-20 stablecoin adoption. The listing of VTRX marks a significant breakthrough for TRON, effectively bridging the gap between the TRON crypto ecosystem and mainstream financial markets in Europe. It will further solidify TRON’s industry leading position as an all-inclusive global blockchain platform.

It has been my vision all the way along that all open blockchains should be the integral part of a common global community, be it TRON, Bitcoin, Ethereum or BSC. As the world’s fastest growing layer-1 protocol with more than 54 million global users and cumulative transactions exceeding 2.4 billion, we will strive to promote sustainable growth for the nascent industry with its defining role to reshape the future for Web 3.0.

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