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.
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.
Let’s say you want to buy True USD. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy TUSD.