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TrueUSD (TUSD)

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What is TrueUSD (TUSD)?

TrueUSD is a stablecoin founded in 2017 by parent company TrustToken. It is a fully collateralized ERC-20 token that seeks to set itself apart from other stablecoins by providing transparency in regards to their reserves. TrueUSD achieves this by having their reserves protected by law and reviewed by third-party certificates. Additionally TrueUSD uses multiple escrow accounts to prevent misuse and counterparty risk.

 

What makes it unique?

  • Stablecoin pegged at $1 USD;

  • User funds are handled by third-party escrow services to reduce risk of misuse of funds;

  • TUSD is generated on deposit of funds;

  • When a user deposits funds, these are transferred to the third party which then issues out an equivalent amount of TUSD;

  • In their whitepaper TUSD is described as being similar to SWIFT, currently the most popular service for worldwide cross-border financial transactions, but more widely available, faster and more secure;

  • TUSD can be transferred anywhere around the world for $0.01;

  • Committed to transparency by having frequent audits performed to verify the integrity of TUSD reserves.

 

Finality

Stablecoins are an interesting and useful phenomenon in the crypto environment. They battle fiercely with one another to provide a slight competitive edge and retain the most users. TUSD is seeking to be a leader amongst stablecoins by providing a way to expose traditional assets, such as real estate or precious metals, to cryptocurrencies. In the future they aim to be a way to securitize these assets by transferring their value into TUSD, making them easily transferable across the world. 

 

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