TrueUSD (TUSD) is a stablecoin that was launched in 2018 by the TrustToken platform. A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, usually by being pegged to a traditional currency like the US dollar.
TrueUSD is backed 1-to-1 by US dollars held in escrow accounts, which are regularly audited by an independent third party to ensure transparency and trustworthiness. This means that for every TrueUSD token issued, there is an equivalent amount of US dollars held in reserve, which gives users confidence in the stability of the coin.
TrueUSD is designed to be a reliable and transparent alternative to traditional stablecoins, which may not always provide a clear picture of their underlying assets or the mechanisms by which their pegs are maintained. It can be used for a variety of purposes, including trading, payments, and remittances, and is supported by a growing number of cryptocurrency exchanges and wallets.
Overall, TrueUSD offers a stable and trustworthy way for users to transact in the cryptocurrency world without being exposed to the volatility that is typical of other digital assets.
TUSD was launched by the company TrustToken in 2018 as a response to the volatility of cryptocurrencies such as Bitcoin and Ethereum. By pegging the value of TUSD to the US dollar, TrustToken aimed to provide a stable and reliable cryptocurrency that could be used for transactions and trading.
To ensure the stability of TUSD, TrustToken requires regular third-party audits of their reserves. The company also claims to employ advanced security measures, such as multi-signature wallets and cold storage, to protect the assets held in reserve.
TUSD can be bought and sold on various cryptocurrency exchanges, and it can also be used for a variety of purposes, including trading, payments, and remittances.