The TUSD coin is listed for trading on trading exchanges globally like Unodax and is paired with a few major cryptoassets like BTC, ETH & INR.
TrueUSD is the first asset token by TrustToken. TrueUSD is the first stable coin built on the TrustToken platform
The project was founded by the trifecta of Rafael Cosman, Stephen Kade, and Danny An. The project has brought in talent from Stanford University, Berkeley, Google, and Palantir. The team has legal backing from WilmerHale and Arnold & Porter, and there will be monthly reports on liquidity by Cohen & Company.
Every TrueUSD is always 100% collateralized by USD, held in professional trust firms’ banks. Transact directly with the trust firm’s bank. The TrueUSD system never touches the funds.
The TrustToken Platform bridges real-world assets and blockchains, enabling trustworthy asset tokenization.
The new asset is the first asset-backed stable coin by the Trust Token project. The service, True Coin, links bank funds in escrow with the issuance of the token.
Beyond serving as a liquidity token on exchanges initially, TUSD may also be used for e-commerce, by being available for international transfers without exchange rate risk.
To increase the amount of security, fiduciaries, and banks directly handle all the funds. Escrowed funds do not give access to the TrueUSD system.
An individual or an institute is allowed to redeem TUSD for USD after getting a verified account on Unodax that has also passed a standard AML/KYC check.
The market cap ranking of the TUSD cryptocurrency is beyond 100 as of June 2018, and it holds a market capitalization of $72.6 million as of the same time. A total number of 72,892,045 TUSD coins are in circulation.
The one major things thing that makes TUSD different from few major digital currencies is that it is a stable coin.
Also Read:
https://blog.unocoin.com/south-africa-tokenizes-cryptoassets-a86198adbb31
