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TrueUSD

News

All the latest news about TrueUSD

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TrueUSD Integrates Alchemy Pay

The Alchemy Pay team announced via a blog post on Friday that it has recently partnered with TrueUSD, the highly transparent stablecoin fully backed by USD, to offer its On-Ramp solution.

 Hassan Maishera

Some TrueUSD Users Were Impacted By Signature Bank’s Closure

Techteryx has revealed that the recent closure of Signature Bank has affected a small number of its TUSD users.

 Hassan Maishera

TrueUSD Now Uses Chainlink’s Proof Of Reserves

Chainlink announced via Twitter on Wednesday that TrueUSD (TUSD) is now using Chainlink’s Proof of Reserves technology to secure minting and further ensure transparency and reliability.

 Hassan Maishera

Trade

Find the exchange with the lowest fees, best methods for depositing or your geographical area and start trading TrueUSD

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Binance

N/A
4.1 based on 2382 votes

Phemex

N/A
4.02 based on 970 votes

SimpleSwap

N/A
3.92 based on 322 votes

Spend

Want to leave your cash at home? These cards support TrueUSD.

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Crypto.com Visa Card

3.46 based on 760 votes

Blockcard

3.75 based on 425 votes

Hi.com Card

3.33 based on 27 votes

Shop

So you've made a little TrueUSD and now you want to spend it? These are the places to do it!

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Cryptoholic Shop

4.4 based on 5 votes

1xBit

4.36 based on 17 votes

VPS2DAY.com

4.23 based on 13 votes

Hodl

Find the wallet that suit your security, ease of use and anonymity needs for TrueUSD.

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YouHodler

3.91 based on 45 votes

Ledger Nano X

3.83 based on 47 votes

Nexo Wallet

3.69 based on 29 votes

Review

Learn more about TrueUSD.

Similar to Tether and Paxos, that we have mentioned on Cryptowisser before, TrueUSD is a fully USD-collateralized cryptocurrency. Tether, on the other hand, are not subject to public or open audits, which question the validity of their claims. Also, large pumps and dumps of Bitcoin has coincided with large amounts of UDST being printed, which seems a little bit fishy.

TrueUSD have “real” legal protection, while they are also transparently audited by third-party attestations. They also employ multiple escrow accounts to reduce the counterparty risk, but also to offer token-holders legal protection again misappropriation.  Moreover, they have built their asset token on the TrustToken-platform, which gives the holder asset-backed tokens to easily trade across the world. In example, users can transact gold to gold tokens or similarly, dollar to dollar-tokens via the TrustToken platform.

So, TrueUSD comes as a ERC20-token on the Ethereum blockchain. They also operate on smart contracts to validate transactions made between banks, users and institutions. Virtually anybody can trade or redeem TrueUSD to USD or the other way around, given that they have passed the KYC/AML checks that the company employ. After one has passed the KYC/AML check, the smart contract initiates a transaction on the blockchain. Subsequently, the escrow bank available for your region or size of transaction will transact the actual USD to the named bank account. This way, the TrueUSD infrastructure never touches the actual FIAT currency. Also, the trust companies can handle purchasing and receipts of the users money through escrow accounts.