Recently,#TRON announced plans for a public listing of Tron Inc through a reverse merger with Nasdaq-listed SRM Entertainment, sparking market discussion. While many have simply likened this move to a 'crypto version of MicroStrategy', stopping at that may severely underestimate TRON's profound significance in the stablecoin payment network.

This may not be a simple capital maneuver, but a significant breakthrough for crypto infrastructure: TRON is expected to become the 'Visa' in the stablecoin world — and land in the traditional financial market in an investable form.

1. TRON: The most active underlying network for stablecoin trading globally

In terms of on-chain trading, the TRON network accounts for over 30% of the global stablecoin trading volume, with USDT's circulation leading significantly. A large amount of cross-border payments, remittances, C2C OTC, and gray foreign exchange trading is increasingly concentrated on the TRON network.

According to CoinMetrics and CoinGecko data, the daily active address count, transaction count, and amount of USDT on the TRON network far exceed those on Ethereum and Solana. Especially in regions with inadequate traditional financial infrastructure, such as Latin America, the Middle East, and Africa, TRON+USDT has become the 'new dollar' for private payments and asset preservation.

As market analyst Sam Reynolds stated:
"The significance of Tron + USDT for South America and other emerging markets is equivalent to that of Visa and Mastercard in the West, or Alipay and WeChat Pay in China."

2. Not just issuing coins, but operating a network: TRON's structural advantages compared to Circle

Currently, 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). Their revenue paths are completely different:
(1) Issuers like Circle rely on interest differentials from asset custody, but are limited in on-chain trading frequency and infrastructure stickiness;
(2) TRON directly controls the public chain itself, allowing it to earn transaction fees and ecosystem stickiness revenue, and participate in resource regulation through the TRX/energy mechanism.

This distinction means that TRON is more like a traditional 'payment infrastructure provider' compared to Circle.

3. Beyond listing: TRON's ecosystem is building a robust 'on-chain nation'

TRON's potential extends far beyond a payment network; it is backed by a fully commercialized blockchain financial ecosystem:
(1) JustLend and JustStable have built an on-chain lending and stablecoin minting system;
(2) SunSwap and PoloniDEX provide on-chain exchange and liquidity support;
(3) BitTorrent Chain (BTTC) enables cross-chain asset bridging;
(4) More crucially, TRON is one of the few networks that can support large-scale USDT transfers at extremely low costs, forming a natural DePIN-level payment channel.

The common point of all this is: the $TRX ecosystem is deeply integrated within.

4. HTX: The underestimated 'TRON priority rights holder'

#TRON The listing, besides boosting the attention on native assets like $TRX, may also reshape the market positioning of #HTX exchange:
(1) #HTX has long been one of the main battlefields for the TRON chain ecosystem, with USDT (TRC20) deposits/withdrawals accounting for over 70% on HTX;
(2) Sun Yuchen's participation in decision-making at HTX gives the exchange a natural advantage for priority integration of TRON-related innovations;
(3) With the compliance and brand upgrade of Tron Inc, HTX is expected to become the premier platform for 'stablecoin asset trading' and 'TRON infrastructure assets', reshaping the core value logic of the exchange.

Under multiple regulatory crackdowns from Binance, Coinbase, and Kraken, HTX may be among the few central platforms that genuinely integrate TRON as a 'new stablecoin payment network' into trading experience, possessing first-hand traffic and market.

5. The listing of Tron Inc marks the 'Visa IPO' moment in the stablecoin world

Through the reverse merger with SRM, Tron Inc not only possibly holds $TRX but also controls a payment link with a real revenue model.

This model is akin to Visa and Mastercard: not issuing currency, but providing a clearing and settlement network, fee structure, and compliance gateway, offering stronger scalability and adaptability to policies.

It can be said that this is not a 'crypto MicroStrategy', but rather a 'stablecoin version of Visa IPO'.

6. TRON's ceiling points not only to Web3 but also to a rewriting of the global financial structure

This step by TRON is not merely a technical avoidance of SEC risks, nor is it simply imitating MicroStrategy's 'asset packaging' path. It truly represents:
(1) From on-chain trading network → cross-border payment infrastructure → global dollar alternative path;
(2) From TRON network → Tron Inc as the listing entity → HTX as the trading and traffic hub;
(3) From Web3 closed narratives → opening asset pricing rights to global financial infrastructure.

In other words: if BTC is digital gold, then TRON is the digital dollar channel, and HTX is the exchange that first capitalized on this channel.