As of the latest update, the price of TrueUSD (TUSD) is $ 0.97594500. In the last 24 hours, it has increased by +0.34%.
TrueUSD (TUSD) is a digital asset known as a stablecoin. A stablecoin is a type of cryptocurrency that is designed to have a stable value, often linked one-to-one with a specific fiat currency. In the case of TrueUSD, it is backed 1:1 with the U.S. dollar (USD). This means that for every TUSD token in circulation, there is an equivalent USD held in reserve.
This approach seeks to combine the best features of blockchain technology with the relative stability of fiat money. The underlying asset (USD in this case) provides price stability, while the blockchain's transparency and security features ensure trust among holders.
TrueUSD was developed by the team at TrustToken, a global platform for tokenizing real-world assets. Their mission is to bring greater transparency and liquidity to financial markets through the use of blockchain technology.
TrueUSD operates as an ERC-20 token on the Ethereum blockchain, as well as on other prominent blockchain networks such as TRON, Avalanche, BSC, Fantom, and Polygon. The TUSD tokens in circulation are backed by an equivalent amount of USD held in reserve.
An industry-specialized accounting firm in the U.S. provides live on-chain attestations to ensure the 1:1 ratio of its USD reserve to the circulating TUSD token supply, and the 100% collateral rate. Additionally, through the integration of Chainlink Proof of Reserve (PoR), TrueUSD boosts its transparency and reliability further.
TrueUSD sets itself apart from many other stablecoins by its commitment to transparency and regulatory compliance. It is the first digital asset with live on-chain attestations by independent third-party institutions. This independent attestation provides users with a high degree of confidence in the integrity of the system.
Moreover, users can access relevant data about the USD reserves backing TUSD at any time through the official website.
The uniqueness of TrueUSD is also reflected in its legal status. It is granted statutory status as an authorized digital currency and medium of exchange in the Commonwealth of Dominica, highlighting its acceptance and potential usability.
The circulating supply of TrueUSD (TUSD) is currently at 1.3B. Being a stablecoin, TrueUSD doesn't have a maximum supply, as more coins can be minted as long as they are backed by a corresponding amount of USD.
TrueUSD (TUSD) is available for purchase on a wide range of cryptocurrency exchanges. Some of the platforms where you can currently acquire TUSD include Binance, BitMart, Huobi, BTC Trade UA. As always, before buying any cryptocurrency, it's important to do your own research and ensure your transactions are done securely.
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