Justin Sun, the billionaire behind Tron, is doubling down on Dubai, striving to make it the world’s cryptocurrency capital. The Tron network processes stablecoin transactions up to $20 billion daily, which is astonishing. Sun Yuchen’s enthusiasm for the UAE reflects his strategic vision. 'All the important figures in the cryptocurrency field are already here,' he told me off the record at Token2049. Token2049 is the largest event in the cryptocurrency sector, attracting hundreds of international speakers and 15,000 attendees.

We sat down to discuss why he sees Dubai as the next frontier, how stablecoins can become the cornerstone of Web3, and even talked about how, as Bitcoin and cryptocurrencies increasingly intersect with politics, President Trump has become a focal point for public praise and scrutiny, a dynamic that continues to influence the broader discussion surrounding the industry.

Dubai becomes the cryptocurrency capital.

Sun Yuchen stated, 'Previously, I would view Singapore as the cryptocurrency center. But now? It’s definitely Dubai.'

He is not the only one holding this view. From major exchanges like Binance and ByBit to Layer-1 protocols, Dubai has become the preferred place to launch and expand cryptocurrency projects, with its development speed even surpassing traditional hubs like Singapore and Switzerland. Sun Yuchen is observing this shift and actively engaging.

Tron and its subsidiaries are gaining regulatory approval from multiple virtual asset regulatory bodies in the UAE, and Sun Yuchen is pleased to establish a presence in the region.

He explained, 'We believe that investment in Dubai is crucial for us and the entire industry,' and emphasized plans to expand the team, host more events, and make the UAE a pillar of Tron’s global expansion strategy.

Sun Yuchen's message is clear: Dubai is the strategic headquarters for the next chapter of Tron.

Tron’s stronghold in stablecoin trading.

Besides Dubai, Sun Yuchen is also optimistic about the future of stablecoins. 'In 2024, the scale of stablecoins we handle will be about $5 trillion,' Sun Yuchen casually said, 'and we expect it to reach $7 trillion by 2025.'

Yes, trillion. This is not the total market cap but the on-chain transaction volume, primarily driven by USDT running on the Tron network, with daily transaction volumes of about $20 billion to $30 billion.

'Our transaction volume has already surpassed that of some of the largest traditional financial systems, like Visa,' he said, 'and we are just getting started.'

Beyond transaction volumes, Tron’s user growth is also noteworthy. Tron has over 300 million wallets, with an average of 250,000 new users added daily, and its expansion rate is faster than most blockchains outside of Ethereum.

What is the appeal of stablecoins on the Tron network? They are fast and nearly free. Unlike Ethereum, where simple stablecoin transfers can sometimes cost as much as $10, on the Tron network, you pay less than a cent.

Sun Yuchen added, 'We have built the Tron network for the whole world. It is borderless, inclusive, and designed for scalability.'

Political direction: Sun, USD1, and the relationship with Trump.

Sun Yuchen's advisory role in the USD1 stablecoin project related to World Liberty Financial has attracted attention, especially because the Trump family is involved in related projects in Dubai.

'I am here to support them in building a powerful cryptocurrency and stablecoin product,' he said, 'but this is their project. I am just helping as much as I can, with no other affiliations.' Some may see this close connection as a conflict, but Sun Yuchen believes it is consistent. In fact, he believes that President Trump provided regulatory clarity for the U.S. at a time when the cryptocurrency industry was in turmoil.

'He is the only one who stepped up to clarify the facts,' said Masayoshi Son. 'Whenever the U.S. takes action, the whole world pays attention.'

Sun Yuchen believes that U.S. leadership in supporting cryptocurrency will drive a new wave of global cryptocurrency adoption, and he plans to be at the forefront, supporting governments that foster innovation.

The future of stablecoins: $250 billion invested, $130 trillion still needed.

Currently, the stablecoin market size is about $250 billion, which may sound large, but when you realize that this is just a decimal point in the global fiat system valued at over $130 trillion, it is just a starting point for Sun Yuchen.

'What will happen when we process $400 trillion on-chain every year?' he questioned.

His vision is clear: all major currencies—USD, Euro, Yen, Yuan, UAE Dirham—will eventually have their blockchain-native versions. And Tron is committed to being the underlying support for all these currencies.

He explained, 'We are not talking about the digitization of the dollar; we are talking about migrating the world's currency infrastructure to the blockchain. That is the real revolution.'

When asked about Tron’s revenue sources, he stated, 'We won’t even consider profitability until we reach 8 billion users. We are building for the future. Profitability will manifest after impact is made.'

This is a high-risk approach, prioritizing coverage and infrastructure over revenue. But in a field that rewards early network dominance, this patience may be the right approach.

For anyone concerned with the evolution of currencies, one thing is clear: stablecoins are no longer a niche phenomenon. They are the core engine of Web3. As blockchains like Tron drive transaction volumes, regulatory involvement, and infrastructure development, the next wave of financial innovation will no longer be built by banks.

It will be established on-chain and will be able to settle, as Sun Yuchen mentioned on Tron.