TrueUSD is a stablecoin running on Ethereum that attempts to maintain a value of US$1.00. The supply of TUSD is collateralized by US dollars held in escrow by banks. Tokens can be purchased and redeemed for US dollars on the TrustToken website.
What Is TrueUSD (TUSD)?
TrueUSD is a regulated stablecoin fully supported by the US Dollar. To put it simply, TrueUSD is an independent and confirmed virtual asset redeemable one-on-one for US Dollars. The stablecoin can be sent to anybody in the world for $0.01, and redeemed for the underlying currency (USD) following a KYC/AML check.
Apart from TUSD, the platform offers many other stablecoins, like TGBP (Tokenized British Pounds), TCAD (Tokenized Canadian Dollars), TAUD (Tokenized Australian Dollars). These tokenized currencies function with third-party accounting corporations to offer monthly attestations to verify the reserves collateralizing each currency. Besides monthly attestations, Truecoin has also started the evolution to a ‘live attestation’ dashboard. Through the association with Armanino, a leading US accounting firm, the TrueUSD holders can check a real-time dashboard of TrueUSD accounts, a good example of advanced transparency.
The real-time dashboard available on the Armanino website has been made independently by Armanino that offers third-party confirmation, with TrueCoin as a premier client. Eventually, the idea is to let the real-time confirmation dashboard substitute the monthly attestations. One of the vital elements of a TrueUSD is the power to freely purchase and use the digital token back into the primary currency invariably, without hassle, and in an affordable manner.
According to its whitepaper, the TrueUSD team holds a socially cooperative connection with the TrustToken team. TrustToken is a platform for developing asset-backed tokens that can be bought and sold simply anywhere in the world. The TrustToken unit helps TrueUSD in functions, compliance, banking concerns, collaborated to cause higher standards for consumer experience, improved marketing budget, increased engineering resources, and better liquidity support.
History ofTrueUSD (TUSD)
The TrueUSD (TUSD) token was founded in 2018.
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