As we all know Cryptocurrency request is not stable and secure. And investors continually look forward to solutions to provide security and stability for these currencies.
Decentralized and open-source, these currencies are suitable for similar demand scenarios because of their simplicity and low cost.
For this very reason, True USD came in, which considers as a Stable coin, and it is a price-stable Cryptocurrency. It’s backed by the U.S bone.
How Does it Work?
Before knowing True USD, it is crucial for investors to know and gain knowledge about Stable coins. A stable coin is the type of coin which is the blockchain grounded Cryptocurrency. Its value is pegged to more precious stable means similar to gold, canvas, and edict currencies.
Therefore, these coins retain the same value as per their underpinning means. True USD is the stable Cryptocurrency and the first asset token which launched the Stable coin. It is grounding on the Trust Token platform. Its end is to make a coin that is stable to trust by the investors. It backs by means so that it can fluently buy and ended encyclopedically.
This coin is redeemable for $1 USD. Rather than having a single corporation managing everything, many trust companies hold US Dollars in different bank accounts. These accounts update daily and are audited annually. For security reasons, the True USD (TUSD) system does not have access to funds, so all transactions handle via Escrow accounts.
TrueUSD uses for fiscal services, Exchanges, Crypto Traders, and Commerce. True USD development team: Rafael Cosman (CTO & Co-founder), Stephen Kade (Co-Founder & COO), and Danny an (Co-founder & CEO). Piecemeal from them, Michael G. Mellow, Ozzie Gooen, and Patricia Weng also largely contributed to the design.
TrueUSD can pair with different Cryptocurrencies similar to BTC, ETH, BNB, KRW etc. Through this, users allow piercing the TUSD token when they are holding any of the below-mentioned currencies.
Piecemeal from that, it is available at the below-mentioned exchanges for trading which are to redeem it. It originally pass a KYC/ AML check and misbehave with the defined conditions as specified in the smart contract and shoot it via a registered Ethereum address. As well latterly the tokens can redeem for the plutocrat via TUSD escrow accounts.
