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TrueUSD (TUSD) is a stablecoin that was launched in early 2018 by Jai An, Rafael Cosman, Tory Reiss and Stephen Kade. Backed by the US Dollar, like most other stablecoins, TrueUSD (TUSD) was launched with the intention of helping investors mitigate the extreme volatility of the cryptocurrency market.

TrueUSD is based on the TrustToken platform. Each TUSD stablecoin is backed by 1 US Dollar, though several more fiat currencies have been added since the launch of the platform. This includes the True Canadian Dollar (TCAD), True Australian Dollar (TAUD) and the True Great British Pound (TGBP). Most recently, the team launched the True Hong Kong Dollar (TrueKHD), the first Asian currency backed stablecoin.

Unlike some other stablecoins, the TrueUSD system, according to the team, does not have access to the funds, for the purposes of security, and instead uses escrow accounts to handle all transactions. The team publishes attestations that confirm the existence of funds to back up the tokens on their blog.

Recent development milestones for the team include the launch of TrueUSD AutoSweep, a wallet management feature for exchanges and Over-the-Counter (OTC) desks. Partnerships are also an important priority for the team, for the purposes of ecosystem expansion. A recent partnership with crypto lender Cred sees users getting interest gains, of up to 8%, on loans made to the Cred platform. 

What Are Stablecoins

4 Jun 2020 3 minute read 5 comments CryptoSorted

What are Stablecoins and how are they different from other cryptocurrencies? One of the major criticisms of bitcoin and other cryptocurrencies (NOT Stablecoins) is that their price is extremely volatile. Most cryptocurrencies could see price fluctuat...

What Is TrueUSD (TUSD)? - [A Comprehensive Guide to Understanding TUSD]

25 Sep 2019 8 minute read 2 comments Mr.CryptoWiki

Image source: TrueUSD is one of the largest stablecoins in the crypto market. It’s the fourth biggest stablecoin in terms of market cap (behind USDT, USDC, and PAX) and the second best stablecoin in terms of daily...