True USD

What is TrueUSD?

TrueUSD is a blockchain-based stablecoin. That means that its value is pegged to fiat currency. TUSD is a part of TrustToken asset tokenization platform. In TrueUSD system the U.S. dollars are held in the bank accounts of multiple trust companies. TrueUSD tokens are based on Ethereum blockchain. If someone wants to obtain tokens using online application, they need to go through a KYC/AML check. Only after that they can send USD to one of the TrustUSD partners. Once the funds are verified, the API instructs a smart contract to issue tokens on a 1 to 1 ratio and to send them to Ethereum address associated with the account in hand. Only after that tokens can be transferred to someone or used as a payment.

Where did TrueUSD come from?

The TUSD company was founded 2017 by Rafael Cosman, Danny An and Stephen Kade. It is situated San Francisco Bay area. During summer and fall of 2017, the team completed SmartTrust and started the development of Trust protocol. In winter they established the partnership with exchanges and banks, had a pre-sale fundraising round, launched alpha version for organizations and traders, and appeared on various exchanges. In 2018 they launched the version 1.0 and beta of TUSD for general users. They are keep developing new products.

What are the advantages of TrueUSD?

  • Legal protection. The token holders are protected with the help of escrow accounts.
  • Can be exchanged for USD. After the verification TUSD can be redeemed for USD.
  • Low risk of a counterparty. Leaves framework allows to exchange TUSD with escrow accounts directly.
  • TUSD is completely collateralized by USD.

What are the disadvantages of TrueUSD?

  • It is centralized. Three quarters of all tokens are held on five addresses.
  • Mining is not possible.

How to buy TrueUSD?

Now let's talk about how to become a TUSD holder. You need to buy TrueUSD. To do that please follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • In the second drop-down list select TUSD. You will be shown the estimated value that you receive after the exchange.
  • Enter the Recipient's Address. TrueUSD will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will be shown Bitcoin deposit address. You need to transfer to this address the necessary amount of BTC to start the exchange.

In a few moments you'll receive your amount of TUSD.