TrueUSD (TUSD) is fully backed by the US dollar. For every one coin of TrueUSD you can redeem for one dollar. The nice thing about this coin is it is legally backed
TrueUSD = Backed by USD
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Exchange Ticker (TUSD)
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TrueUSD (TUSD) is a coin that is fully backed by the US dollar. For every one coin of TrueUSD (TUSD) you can redeem it for one dollar. The nice thing about this coin is it is legally backed and in addition, it is also a fully transparent coin.
TrueUSD (TUSD) was launched this year as a consequence of the volatility in the cryptocurrency market and the increase in speculation of another coin called the Tether. Since Tether was not the most transparent coin and also given the fact it was not fully redeemable for US dollars, there was need for a coin that was fully collateralized and transparent.
- Addressing important issues
- Legal protection
- Very stable
Addressing important issues
TrueUSD (TUSD) was created to address these important issues and to meet the robust demand from traders looking for a completely collateralized coin. In a short time, they rose to a value of more than twelve million dollars. To use TrueUSD (TUSD), you will need to use your fiat currency which will be held in an escrow account. In fact it never deals or touches your fiat currency directly.
The presence of escrow accounts ensures legal protection as well as 3rd party validation. Your TrueUSD (TUSD) coin remains on parity with the US dollar. TrueUSD (TUSD) has been constructed around the TrustToken platform which enables everyone to tokenize or create tokens backed by assets for global trading. TrueUSD happens to be the first token (asset backed) on the TrustToken platform.
The TrueUSD (TUSD) coin is very stable and has a fixed price. A majority of these coins are pegged to the price of a cryptocurrency in a particular fiat currency. The nice thing about the coin is its stability. Compared to other coins like Basecoin and MakerDAO, which work on protocol basis, the TrueUSD is backed by assets. It offers a number of benefits over other stablecoins including being redeemable to anyone who has passed his or her KYC and Anti-Money Laundering checks.
The True USD is also backed by the American dollar and so is able to act like a stable currency for digital exchange. The best part is each coin is completely collateralized by the American dollar and can be held in your bank with complete transparency.
The TrueUSD (TUSD) platform makes it easy for any asset to be tokenized and also traded on world markets. For example, you can transform silver into silver tokens and Euros into Euro tokens. These tokenized assets can then issue their own coins representing a fractional control and ownership of the asset.
At present, the TrueUSD (TUSD) is backed by the American dollar. In the years to come, there is scope for other like TrueEuro as well as TrueYen and a host of stable tokenized goods such as but not limited to precious metals and real estate to be developed.
- Legally Backed
- Growth Issues