Author: Lesley
Source: MetaEra
The Web 3.0 strategies and layouts of publicly listed companies have become a hot topic of increasing public interest. Against this backdrop, MetaEra officially launches the ++“Executive Interviews on Crypto Concept Stocks”++ series. We will engage with those business leaders who dare to lead in the wave of digital transformation, exploring their strategic layouts, business innovations, and financial innovations through the first-person perspective of decision-makers, providing forward-looking insights for industry participants.

On June 16, 2025, through a reverse acquisition of Nasdaq-listed SRM Entertainment, TRON (TRX) was officially adopted as a reserve asset by a U.S. listed company for the first time. On July 16, the company completed its renaming process, officially changing its name to Tron Inc., and the next day, its stock trading code was also changed to “TRON.”
This corporate action, referred to in the industry as the “TRX Micro Strategy,” reflects a deep consideration of the integration path between traditional finance and digital assets, and represents an important exploration of the possibilities for compliance innovation in an increasingly stringent regulatory environment for cryptocurrencies.
In this critical period where traditional financial order and decentralized concepts are deeply intertwined, MetaEra interviewed the core participant of this financial revolution—Justin Sun, founder of TRON and global advisor of Tron Inc. In this in-depth dialogue, Justin Sun will analyze how to find a balance between compliance requirements and technological innovation, how to transform the transformative potential of blockchain technology into sustainable business value, and his thoughts and practical paths regarding the strategic vision of building a “global financial consensus power.”
Below is the full text of this interview.

Tron Inc.'s "TRX Micro Strategy": The Crypto Reconstruction of Traditional Capital Markets

MetaEra: Congratulations on completing the reverse acquisition of Nasdaq-listed SRM Entertainment, achieving the adoption of TRON (TRX) as a reserve asset by a U.S. listed company. The company has also been renamed Tron Inc., and on July 24, it rang the opening bell at the Nasdaq exchange. What are the key strategic considerations behind this? What significant implications do you believe this listing strategy has for the long-term development of TRON in the current cryptocurrency market environment?
Justin Sun: With the rapid development of the Web 3.0 industry and blockchain technology, the investment intentions of global institutions and individual investors in the blockchain industry have also surged. As a Nasdaq-listed company, its vision is to become a pioneer and evangelist for the integration and innovation of traditional finance and cryptocurrency, providing a clear path for global enterprises to explore new asset allocation models and creating long-term value for shareholders.
The “TRX Micro Strategy” adopted by Tron Inc. aims to create new investment opportunities for the company’s shareholders by holding cryptocurrencies to indirectly invest in underlying blockchain applications. As a leading public chain globally, TRON has become the preferred payment network in the industry due to its large user base, high performance, and low cost. The native token of TRON, TRX, leverages the TRON ecosystem and rich DApp application scenarios to create space for its own value appreciation. Currently, the TRX reserve assets held by Tron Inc. are staked on JustLend to optimize returns for investors.

Justin Sun rang the opening bell at the Nasdaq exchange on July 24 (Source: Nasdaq)
At the same time, we believe that Tron Inc., as a Nasdaq-listed company, will demonstrate the integration of traditional finance and blockchain technology innovation to the public in a compliant and transparent manner. On one hand, the value appreciation of TRX reserve assets is managed by the listed company team, which includes strategic choices and risk control regarding blockchain technology, providing investors with a compliant investment exposure to cryptocurrencies; on the other hand, Tron Inc. adheres to Nasdaq's mature regulatory guidelines and financial reporting standards, which helps investors deepen their understanding and trust in TRX and TRON blockchain technology, promoting further prosperity of the TRON ecosystem.
Of course, the listing of TRON's native token (TRX) as a reserve asset by Nasdaq-listed Tron Inc. is an important milestone in the rapid development of the TRON blockchain, signifying that TRON has entered the global capital market's view in a new posture, facing a broader development track. In a market environment where BTC and ETH are hitting new highs, the market's awareness of cryptocurrency investment is increasing. As a perennial track in the blockchain ecosystem—blockchain technology, TRON is confident in its strategic layout and technological strength. We are confident that Tron Inc. and the “TRX Micro Strategy” can serve as a robust, long-term choice, providing the public and investors with new asset allocation avenues.
MetaEra: What types of Web 3.0 companies do you think are more suitable for going public? Is now the best time for Web 3.0 companies to seek listing?
Justin Sun: In the past two years, the wave of Web 3.0 companies going public has gradually intensified, and we can see a diverse range of prospective listing entities emerging. However, I believe that suitable Web 3.0 companies for listing are still those with solid foundational technologies, strong market demand, and continuous innovation capabilities. In other words, from an investor's perspective, the companies that can become ideal investment targets in their eyes are often those with robust underlying technologies, market space, and innovation capabilities, as these companies are most likely to gain market recognition.
Firstly, these Web 3.0 companies need to have mature foundational infrastructure technologies. The underlying technologies (blockchain protocols, smart contracts, etc.) are the fundamental veins of the entire blockchain ecosystem, supporting the operation of payments and decentralized applications. Companies that began laying out early in this field and continue to delve deeply can achieve sustained development. Sufficiently strong technological barriers can provide continuous motivation for product research and development and innovation, as well as build a “moat” for the company's development. Secondly, strong market demand means that the company's products or services address existing pain points in the industry, can be accepted by a large user base, and are recognized for the professional services or products provided by the company. Such market-favored products can continuously bring good profits to the company.
Moreover, having the ability to continuously innovate allows the company to fully unleash its future development potential. After going public, being empowered by capital can better leverage technological innovation or product upgrades, creating new growth points for the company and bringing greater returns to its investors.
MetaEra: Tron Inc. is the largest holder of TRX among publicly listed companies, currently holding over 365 million TRX tokens (worth approximately $124 million). Can you explain this strategy? Will the company consider diversifying its crypto asset reserves beyond TRX in the future?
Justin Sun: As mentioned earlier, Tron Inc.'s “TRX Micro Strategy” involves listing the native token TRX on the company's balance sheet. Looking beyond the surface, it is essentially a long-term optimism about TRX and the development of TRON blockchain technology. Tron Inc. holds a large amount of TRX to diversify capital (e.g., through staking for yield) and lock in value growth. Tron Inc. recently disclosed its performance for the second quarter of 2025, benefiting from substantial returns generated by its TRX holdings, the company has already turned a profit in the second quarter.

Finding Balance Between Compliance and Innovation

MetaEra: The U.S. regulatory environment for the crypto industry is tightening. How will Tron Inc. respond to the requirements from regulatory bodies like the SEC in the future?
Justin Sun: The U.S. regulatory environment for the crypto industry is indeed becoming increasingly stringent, and the SEC's requirements are continually rising. As a Nasdaq-listed company, Tron Inc.'s stance is clear: to actively embrace compliance and maintain communication with regulatory bodies, closely adhering to the disclosure, governance, and financial transparency standards of listed companies. Recently, the SEC also established a Crypto Task Force to promote the development of relevant frameworks, and we will actively monitor this to ensure that the rules protect investors while supporting innovation.
I want to emphasize that I believe the tightening of regulations is not an obstacle for companies like Tron Inc.; rather, it is a new opportunity. The clearer the rules, the more they can attract the attention of traditional finance, leading to more professional investment institutions entering the market. Our goal is to achieve integration with the Web 3.0 industry within a compliant framework, bringing this integration into the mainstream traditional financial market, allowing traditional finance and blockchain to be more closely combined.
MetaEra: As a publicly listed company deeply engaged in Web 3.0, Tron Inc. must meet Nasdaq's strict compliance requirements while maintaining the innovative vitality of Web 3.0. How will Tron Inc. find a balance between compliance and innovation?
Justin Sun: I believe that “finding a balance between compliance and innovation” is actually Tron Inc.'s core competitiveness. Because Tron Inc. is both a publicly listed company on Nasdaq and backed by a globally leading blockchain public chain ecosystem.
In terms of compliance, Tron Inc. has established a comprehensive risk and compliance framework to meet the requirements of U.S. regulatory bodies such as the SEC and Nasdaq. For example, all disclosures, financial transparency, and internal governance adhere to regulatory standards. You may have noticed that Tron Inc. recently submitted a mixed securities registration application to the SEC for up to $1 billion, which is a shelf registration that allows for the flexible issuance of common stock, preferred stock, bonds, and warrants in the future based on market opportunities, to purchase TRX or for other strategic purposes. This effectively brings traditional financial market tools into the strategic framework of Web 3.0 enterprises, making capital allocation more efficient.
On the innovation front, as previously mentioned, the “TRX Micro Strategy” represents a potential TRX treasury of up to $210 million, which is not merely a holding warehouse. Through staking and energy rental, it can generate continuous cash flow for Tron Inc.; at the same time, these assets promote the development of the TRON ecosystem: on one hand, supporting DeFi protocols and infrastructure development within the ecosystem, driving developer and application growth; on the other hand, enhancing network security and consensus stability through staking. In other words, it effectively combines on-chain native assets with financial engineering methods from traditional capital markets, allowing the entire ecosystem to have both growth and resilience.
Therefore, I do not believe that compliance and innovation are contradictory. The transparency brought by compliance is the foundation of trust, which will encourage more institutional investors to participate and invest in Tron Inc. Within the realm of compliance, actively exploring, trying, and innovating is the way to find the latest forms of integration between traditional finance and cryptocurrencies. I look forward to more surprising developments and initiatives from the Tron Inc. team in the future.
From a longer-term perspective, I personally hope that Tron Inc. can be included in the Nasdaq 100 index within the next three to five years, which would mean that Tron Inc., as a company deeply engaged in Web 3.0, is truly regarded as a large technology company by the mainstream financial market.
MetaEra: Reports mention that Canary Capital Group has submitted a TRX ETF application to the SEC. From a corporate strategy perspective, how do you view the value of traditional financial products like the TRX ETF for TRON?
Justin Sun: Regarding the value of traditional financial products like the TRX ETF for TRON, I have the following three points:
(1). Broadening TRON's investor base and introducing massive incremental funds can support the development of the token. The listing and trading of the ETF will significantly increase the trading depth and breadth of TRX in the traditional financial market, enhancing its overall liquidity, which helps stabilize prices and reduce extreme volatility.
(2). Increasing brand recognition and setting a benchmark for the industry. Obtaining approval from the U.S. SEC itself is a strong regulatory endorsement, greatly enhancing the recognition and credibility of TRX and TRON globally.
(3). The influx of funds brought by the ETF will directly enhance the value of TRX, supporting the development of the community. The rise in TRX's value benefits not only token holders but also provides stronger financial support for future TRON technology development, ecosystem project incubation, and developer incentives, further promoting community prosperity.
From a corporate strategy perspective, the value of ETFs for blockchain companies is multi-layered.
Firstly, I am not unfamiliar with ETFs. As early as when Bitcoin spot ETFs first entered the U.S. market, I participated in discussions and promotion processes related to it, including exploring TRON ETN and trust product structures and compliance paths with partners like VanEck and Valkyrie. This has given me a profound understanding and practical experience of the value of ETFs in bringing digital assets into the mainstream market within a compliance framework.
Secondly, Canary Capital's TRON ETF is unique. Unlike traditional crypto ETFs, this product does not simply track the price of TRX but introduces a staking yield mechanism. This means that investors can not only gain market returns from TRX through the ETF but also enjoy continuous on-chain cash flow. This differentiation and attractiveness stand out among current crypto ETF application projects.
Finally, from a strategic perspective, the value of the ETF goes far beyond providing an investment tool. It represents the gradual inclusion of digital assets into mainstream investment targets by traditional finance. For TRON, the implementation of the ETF will lower the entry barriers for traditional investment institutions, enhance TRX's liquidity in the global capital market, and further consolidate TRON's bridging position between traditional finance and Web 3.0 innovation.
Therefore, I believe the strategic significance of the TRX staking ETF lies in the fact that it is not only a breakthrough at the product level but also an institutional innovation for the entire industry. It will attract broader capital participation for TRON, enhance the sustainability of the ecosystem, and further accelerate the deep integration of blockchain and traditional finance.

Reconstructing Financial Consensus: The Deep Integration of Traditional Capital and Digital Natives

MetaEra: Stock tokenization has become a hot topic in the current market. Will TRON consider supporting stock tokenization on-chain in the future, allowing stocks to circulate on-chain?
Justin Sun: Stock tokenization is undoubtedly one of the most exciting topics in the current fintech landscape. Simply put, it involves using blockchain technology to convert stocks into digital tokens, aiming to break down traditional financial barriers and greatly enhance asset liquidity, trading efficiency, and global accessibility. As the cryptocurrency market matures and institutional investors flood in, traditional financial giants like BlackRock and JPMorgan are actively exploring the tokenization of real-world assets (RWA) to reduce transaction costs and attract global retail investors, seizing new development opportunities in the digital wave.
TRON, as a leading company focused on blockchain technology and decentralized applications, already possesses a unique industry position and inherent advantages. TRON has built an efficient blockchain network that supports high-throughput transactions and smart contract execution, providing a solid technical foundation for potential future stock tokenization.
At the same time, the best timing for stock tokenization depends on the emergence of a clear and friendly “market window,” which requires clear legal guidance and a sound financial infrastructure as guarantees, as well as the formation of a truly mature and rational investor market. We will continue to monitor the latest market developments.
In summary, TRON is fully prepared technically for stock tokenization. The goal is not only to provide a more convenient investment experience for global investors but also to scale the application of real-world assets (RWA). We look forward to collaborating with global partners and regulatory bodies to accelerate the arrival of this day.
MetaEra: The integration of traditional finance and cryptocurrencies has become a global trend. How are TRON and Tron Inc. preparing to seize this wave and push TRON from the “crypto community” to truly become a “global financial consensus power”? Are there any risks involved?
Justin Sun: As the first publicly listed company to incorporate TRON's native token TRX into its balance sheet, Tron Inc. is optimistic about TRON's market advantages as a leading global public chain.
We believe that Tron Inc., as a bridge connecting traditional finance and the TRON ecosystem, opens a door for traditional finance to understand TRON, creating a compliant and convenient new channel for traditional financial market investors to participate in the value growth of the TRON ecosystem, enhancing traditional investors' understanding of the cryptocurrency world. The successful practice of Tron Inc.'s “TRX Micro Strategy” not only explores new value growth points for itself but may also open a new path for traditional capital markets to allocate crypto assets and embrace the value of blockchain ecosystems, attracting more institutional attention and exploration of similar strategies. This will undoubtedly contribute to the formation of a “global financial consensus” and promote the integrated development of traditional finance and cryptocurrencies.
Of course, I also believe that the path of integrating traditional finance and cryptocurrencies will not be smooth sailing.
On one hand, the integration of the crypto market with traditional finance inevitably means facing the risks of irrational fluctuations in financial markets; the ups and downs of capital markets and market sentiment will inevitably impact cryptocurrency strategies, requiring relevant corporate teams to continuously monitor and assess risks and make necessary adjustments based on market conditions, necessitating continuous innovation in exploration;
On the other hand, the current regulatory framework for the crypto market and industry is still in its early stages, and companies adopting crypto micro-strategies need to maintain close communication with regulators to practice these strategies on a legal and compliant basis.
MetaEra: If you had to summarize Tron Inc.'s mission and vision in the “integration of traditional finance and cryptocurrencies” transformation in one sentence, what would it be? How does the company hope to contribute value to this financial transformation?
Justin Sun: Tron Inc.'s vision in this context is “to become a pioneer and evangelist for the integration and innovation of traditional finance and cryptocurrencies, providing a clear path for global enterprises to explore new asset allocation models.”
To achieve this vision, Tron Inc.'s core contribution is first reflected in extreme execution transparency. Tron Inc. will present its “TRX Micro Strategy,” including its decision-making content, execution process, and asset holding status, to the traditional financial market in a highly transparent manner. Through this approach, Tron Inc. aims to eliminate traditional investors' doubts and information gaps regarding the company's holding of crypto assets, establishing the foundation of trust.
Secondly, Tron Inc. will take on the role of “evangelist” and “translator” for ecological value. As a steadfast holder of TRX, Tron Inc.'s success is closely tied to the prosperity of the TRON ecosystem. Therefore, Tron Inc. will actively and systematically explain the immense commercial value embedded in the TRON ecosystem to the traditional financial community—from its position as the world's largest network for stablecoins to its vast prospects in the tokenization of real-world assets (RWA). I believe Tron Inc. is not only showcasing the future potential of the TRX token but also revealing the disruptive opportunities brought by the entire Web 3.0 world to traditional capital, thereby attracting more mainstream attention.
Ultimately, through these actions, I hope Tron Inc. can become a successful example to emulate. When other companies consider whether to incorporate digital assets into their corporate strategies, they can find a validated and responsible blueprint from Tron Inc.'s practices. I believe that through its successful practices, Tron Inc. can guide more companies to join this movement, collectively accelerating the public's understanding of the cryptocurrency market and quality projects, thereby truly and deeply accelerating the integration process between traditional finance and the crypto world at the corporate level.