Tron’s Nasdaq Debut Could Offer Rare Equity Exposure to Stablecoin Infrastructure
Tron Inc., via a reverse merger with Nasdaq-listed SRM Entertainment, is positioning itself as the first public company offering direct exposure to the blockchain rails underpinning global stablecoin use—especially in underserved economies.
The rebranded entity will adopt a TRX treasury strategy, effectively turning Tron DAO’s blockchain activity into a listed equity story. Although TRX traded flat in early Asia, up just 1%, the structural implications could be substantial.
While Circle, issuer of USDC, offers investors a regulated fiat-backed stablecoin model, it doesn’t own the chain it operates on. In contrast, Tron controls its infrastructure, where over 30% of stablecoin transactions and nearly 50% of USDT circulation occur (DeFi Llama).
Tron’s revenue model centers on capturing fees directly from network activity, similar to payment processors like Visa or Mastercard—especially relevant in countries where Tether via Tron has become a proxy for the U.S. dollar, such as Lebanon, Argentina, and Brazil.
A recent CryptoQuant report noted that 59% of May’s USDT volume on Tron came from large transactions (>$1 million), further underlining its role in cross-border payments and remittances across the Global South.
Why It Matters
This listing could be the first real public-market proxy for decentralized payment infrastructure, akin to Visa’s 2008 IPO or Tencent’s early WeChat Pay exposure. With the digital yuan failing to gain traction globally, stablecoins—particularly on Tron—are emerging as the de facto financial rails of developing economies.
If the public market begins to recognize stablecoin infrastructure as investable, Tron Inc. could become the top equity vehicle for accessing real-world blockchain utility, especially as crypto rails increasingly complement or bypass local banking systems.
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