TrueUSD (TUSD) is a fiat-collateralized stablecoin published by the TrustToken platform that holds USD funds in third-party escrow accounts without direct access by TrustToken. TUSD is an ERC-20 token published on Ethereum and corresponds on a 1:1 basis with U.S. Dollars posing in bank accounts. TrueUSD is the best stablecoin, offering real-time audits.
What Is TrueUSD (TUSD)?
TrueUSD (TUSD) is a U.S. dollar stablecoin pegged to USD at 1:1. First established to a limited investor base in January 2018, TUSD has since developed to include nearly $400 million of backed tokens as of October 2020.
TrueUSD is one of several cryptocurrency stablecoins. TrustToken issues it TrustToken is a platform for tokenizing real-world assets.
As with further stablecoins, TrueUSD (TUSD) desires to promote improved liquidity and deliver to cryptocurrency dealers. And users with a nonvolatile asset relative to free-floating tokens such as Bitcoin (BTC).
TrueUSD (TUSD) Coin Live Price, Market Cap, Volume, Supply.
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History of TrueUSD (TUSD)
Visiting the issues surrounding whether Tether was funded entirely and had dedicated banking relationships, Trust Token developed a stablecoin called TrueUSD (TUSD). Introduced in mid-2018, TrueUSD is a fully collateralized stablecoin backed by U.S. Dollars. They launched it via the Trust Token platform as its continued effort to tokenize real-world assets on its collateralized platform. Each TrueUSD (TUSD) token is backed by one dollar and was found and broadcasted through a Trust Token platform smart contract. Trust Token has partnered with registered fiduciaries and banks that maintain the support and backing of the TUSD tokens.
In December 2019, TUSD became the foremost stablecoin to present real-time audits.
What is TrustToken?
TrustToken is a platform to make asset-backed tokens you can easily purchase and sell worldwide. For example, dollar-to-dollar tokens or gold-to-gold tokens.
How TrueUSD (TUSD) works?
When a customer uses U.S. dollars to buy TrueUSD (TUSD) on the TrustToken platform, the smart contract underlying the platform automatically starts and issues the matching equivalent amount of TUSD, which forms part of the token’s circulating supply. In contrast, anytime a user redeems TUSD through the TrustToken platform, an intelligent contract automatically burns or removes the redeemed tokens from the circulating collection of TUSD. Simultaneously, the platform awards the user U.S. dollars equal to the amount of TUSD saved.
TrustToken does not impose purchase or redemption fees for transactions, which is one benefit of utilizing TUSD. The company generates earnings by collecting interest on U.S. dollars in company accounts. Because retailers are familiar with their ability to purchase and sell TUSD at a 1:1 ratio using TrustToken, the market creates a natural arbitrage opportunity, maintaining the token pegged to the dollar.
What is TrueUSD used for?
Individuals and institutions use TUSD for a variety of reasons. One benefit is that it lets merchants and investors access the cryptocurrency markets without being exposed to volatility. It also enables the same investors and traders to quit the needs and avoid escalating volatility by focusing on TUSD’s stability.
TUSD argues to be the most transparent stablecoin, with monthly audits showingthat the amount of U.S. dollars held in escrow in FDIC-insured U.S. bank accounts equals the quantity of TUSD in circulation.
TUSD becomes more valuable as the number of trading pairs and liquidity expands. It also promises to minimize third-party risk, as TUSD may be redeemed or held in any ERC-20-compatible personal wallet.
What Makes TrueUSD Unique?
TrueUSD aims to balance strength and utility — the prominent use cases of any stablecoin — with protection as regular attestations.
From its launch onwards, parent organization TrustToken has aimed to highlight the significance of independent confirmation of the stablecoin’s provenance. The stablecoin’s request is geared towards more central investors to decrease risk and fewer personal traders.
TrustToken represents TUSD as “the first regulated stablecoin fully supported by the U.S. Dollar.”
TrueUSD is an element of an ever-expanding stablecoin market, which now includes many USD-backed assets. Tether (USDT) stays the most extensive, with a market cap of $15 billion as of October 2020, compared to TUSD’s $382 million.
TrustToken has entered different corporate partnerships as part of its business activities, including opportunities for TUSD holders to improve annualized passive income returns.
Is TrueUSD (TUSD) a Good Investment?
The price of TrueUSD (TUSD) presently stands at around $1.00. Established on Cointobuy's TrueUSD analysis, the asset has a 3.0 out of 10 security rank as of May 4, 2022, with TUSD's value growing to $1.01 and +0.9% expected returns in 2022.
Is TUSD a cryptocurrency?
TUSD (TrueUSD) is a so-called stable coin understood in the crypto industry. TUSD typically matches the value of the US dollar. They made it on the Trust Token platform.
Is TrueUSD a stablecoin?
TerraUSD was an algorithmic stablecoin that utilised a similar floating-rate coin, Luna, to back up its fixed dollar exchange rate. It became popular because users could deposit their coin and earn 20% interest in an experimental lending task called Anchor.
Is TrustToken safe?
TrustToken offers the most prominent family of digital currencies backed by real-world money. They direct the way in stablecoin clarity, compliance and security. TrustToken's TUSD is the first regulatory-compliant investment fully backed by live-auditable USD collateral, exceeding industry standards.