TrueUSD is a regulated stablecoin fully backed by the US dollar and claims to be the first of its kind that is regulated. It is an independently-verified digital asset pegged to the USD, making it fully redeemable against the US dollar.
Calling itself the new face of money, the TUSD stablecoin operates across multiple blockchain ecosystems, including Ethereum, TRON, Binance Smart Chain (BSC), Binance Chain (BC), Polygon, Avalanche, Fantom, HECO, Arbitrum, and Cronos.
It empowers users with all the strengths that blockchain-based digital assets offer - transparency, decentralization, encryption, and security, without the extreme volatility of leading crypto assets in the market. Pegged to the USD, users can mint TUSD for USD on a 1:1 basis.
They can then use their TrueUSD coins to trade other cryptocurrencies on exchanges as a base asset immune to market volatility. As of July 2022, the TrueUSD stablecoin is supported on over 70 exchanges, services over 160 markets, and over 20 OTC desks across five continents.
In 2021, TrueUSD announced the integration of TUSD stablecoin with Signet, the blockchain-based payments platform of Signature Bank. TrueUSD also has a connection to Blocktower Capital, one of the investors backing TrustToken - the company behind the development of the stablecoin. In August 2021, the company, along with A16z and Alameda Research, participated in raising $12.5 million in funding.
