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Launched in March 2018, True USD (TUSD) is a Fiat Collateralized stablecoin, and the world’s first digital currency whose value is pegged to the value of the US Dollar. Meaning it is a fully collateralized, transferable coin, redeemable 1:1 against the USD at any point. It can be used on many ecosystems and applications.
The company behind TUSD, Trust Token was created in 2017 and since launching TUSD they have subsequently released other stablecoins pegged to other currencies. This includes, for example, TrueGBP (TGBP) pegged to the GB Pound and TrueAUD (TAUD) pegged to the Australian Dollar.
At the moment international trade and remittance generally can suffer from high fee charges and slow transactions. TUSD, and other tokenized currencies, have been designed and created by Trust Tokens with a primary goal of improving this system. It aims to speed up transfers and reduce transaction costs, with the hope that international trade and remittance can become more accessible.
Notably, TUSD is fully backed by the US Dollar. TUSD partners with top US accounting firms and banks, and other third-party verification of funds to audit reserves and ensure transaction transparency and reliability. Meaning that at any given point, it is possible to purchase and redeem its underpinning fiat currency, the USD. The process to do so has been designed to be as cheap and as easy as possible whilst retaining blockchain regulatory compliance and transparency worldwide.
By tokenizing USD, individuals around the world can access a stable digital currency pegged directly to the USD providing the economic security of the USD, meaning it can be used as a trusted store of value. This is particularly useful for individuals and businesses in countries who may face difficulties even to open a bank account.
TUSD at present has multiple use cases. It can be traded against other cryptocurrencies on cryptocurrency exchanges. It can also be used as a reliable store of value.
Trust Token believes the potential use cases for TUSD and other tokenized currencies will go even further than this in future. Notably, to facilitate international trade and remittances through cheapening, simplifying and speeding up transaction processes.
True USD's current price is $ 0.999, it has dropped -0.02% over the past 24 hours.
True USD's All Time High (ATH) of $ 1.36 was reached on 16 May 2018, and is currently -26.8% down.
The current circulating supply of True USD is 949.04 Million tokens, and the maximum supply of True USD is 949.04 Million.
True USD’s 24 hour trading volume is $ 14.77 Million.
True USD's current share of the entire cryptocurrency market is 0.08%, with a market capitalization of $ 947.74 Million.