Tron Strikes New Partnership, Eyes Institutional Investors As CEO Justin Sun Gears Up for Samsung Event
Tron is collaborating with one of China’s top-ranked engineering schools, Beijing University of Posts and Telecommunications, to advance network development.
According to the announcement,
“Under the agreement, both parties will cooperate closely in the areas of smart contract based on zero-knowledge proof, homomorphic encryption and others.”
Meanwhile, in another strategic step for Tron, BitGo confirms that it will launch Tron’s first institutional-grade wallet for TRX, offering on-chain, multi-sig security and custody.
Funds stored using a multi-sig address can require access by separate individuals, allowing two or more parties to sign documents as a group. Tron CEO Justin Sun says BitGo’s support will allow the company to delve into various DeFi applications.
“This means that any exchange partners, prime brokers, and futures platforms that may want to custody TRX have a viable option to do so in a safe and compliant way through BitGo.”
Says Ben Chan, chief technology officer at BitGo,
“BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people’s assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX.”
Tron first announced in February that industry leader BitGo, backed by Goldman Sachs and Mike Novogratz’s Galaxy Digital Ventures, would provide wallet and custody support for its native currency TRX.
Sun, who is also fond of making announcements about upcoming announcements, promises more news at the end of the month.
— Justin Sun (@justinsuntron) October 15, 2019
The San Francisco-based CEO is expected to make his announcement in California when he joins other leaders in the crypto industry at the Samsung Developers Conference held on October 29-30 in San Jose.
Earlier this month, Sun participated in a Samsung Galaxy Note 10 giveaway. In the run-up to the company’s blockchain tech event, Samsung developers are teasing Sun’s presentation as a must-watch.
Happy to be speaking about real-world uses for #blockchain at Samsung Developer Conference!
Use my exclusive promo code "JUSTIN-SDC25" to attend for 25% off.
— Justin Sun (@justinsuntron) October 9, 2019