True USD (TUSD) Rank 32
$1.01416
True USD (TUSD) Rank 32
Website Twitter
203,078,205 TUSD

True USD (TUSD)
True USD (TUSD)
TUSD

True USD (TUSD) Price
$1.01

True USD (TUSD) 24h Vol
$40,300,760

True USD (TUSD) Market Cap
$205,953,813

True USD (TUSD) Circulating
203,078,205

Full Name
True USD (TUSD)
Symbol
TUSD
Algorithm
BTC Price
0.000252050400 BTC
BTC Market
51,186 BTC
BTC 24h Vol
10,016 BTC
Total Coins Mined
203,078,205 TUSD
1h
-0.09 %
24h
-0.13 %
7d
-0.74 %

Charts

Description

Description


TrueUSD, part of the TrustToken asset tokenization platform, is a blockchain-based stablecoin pegged to the value of USD. In the TrueUSD system, U.S Dollars are held in the bank accounts of multiple trust companies that have signed escrow agreements, rather than in a bank account controlled by a single company. The contents of said bank accounts are published every day and are subject to monthly audits. 

If someone wants to obtain TrueUSD through the online application, they will need to pass a KYC/AML check. Once that’s complete, they can send USD to one of TrueUSD’s trust company partners. Once the funds are verified by the trust company, their API will instruct the TrueUSD smart contract to issue tokens on a 1 to 1 ratio and to send them to the Ethereum address associated with the account at hand.

Once in the wallet, the tokens can be transferred to a friend or used as payment, combining the advantages of fiat (stability and trust) with those of cryptocurrencies (reduced fees and transfer times). The user can also redeem real US Dollars by sending the TUSD tokens back to the smart contract address, which will notify the trust company, and initiate a bank transfer to the user’s account.