TrueUSD (TUSD) is an ERC20 Stablecoin whose value is pegged to that of USD (United States Dollar) on a ratio of 1:1. It is the first token to be developed on the TrustToken platform. The token is protected by multiple escrow accounts, with escrow agreements and whose contents must be published daily and go through monthly audits. The token is also protected from the volatility of other digital coins like BTC and ETH. All smart contracts using this token are identified via an Ethereum address. Show more [+] A TrustToken is a platform on which tokens collateralized by assets in the real world are created and sold in various markets around the world.
The main purpose of TUSD is link up real world assets with the blockchain. This token can be used as a store of value considering its stability where by investors can tokenize their physical assets and have them secured in the blockchain. The token can also be used as a means of payment as well as for money transfer. It reduces the cost and time required by conventional money transfer platforms. Another special aspect is that you can exchange fiat USD currency directly with an escrow account.
Tokenization is a good way of democratizing investment allowing small scale investors access to multi-billion opportunities that were previously only accessible to a few mega rich individuals and corporations. Tokenized assets can issue their own coins allowing for fractional ownership. Advantages of this system is to have liquidity premiums, access to worldwide investments and security.
TUSD is available in various exchanges including Binance, Bittrex, Okcoin, OKEX, and KuCoin among others.
The team behind this project comes from renowned institutions including Google, Stamford, Palantir and UC Berkerly. The backing team includes founder Fund Angel, Stanford-StartX, Blocktower Capital, while the legal representation is from White & Case and WilmerHale.
Notable individuals include CEO and co-founder Danny An, CTO and co-founder Rafael Cosman and COO and co-founder Stephen Kade among others.