TrueUSD is the US stable ERC20 coin that is fully collateralized, protected by law and transparently reviewed by third-party certificates. TrueUSD uses multiple escrow accounts to reduce counterparty risk and to provide tokens with legal protection against misuse. TrueUSD is the first asset token based on the TrustToken platform.
TrueUSD was developed for crypto exchanges, crypto traders and financial companies.
Crypto traders and exchanges
Cryptocurrency traders want a trustworthy stable coin to protect against volatility and can enter cryptographic markets without being directly exposed to BTC/ETH.
People and businesses in daily life can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency to enable a new economy of the cryptocurrency financial applications.
Some emerging markets are increasingly relying on cryptocurrencies for trading.
Financial companies that want to get into the crypto, but justified reservations against $100 million into a new algorithmic stable coin vs. $100 million "legally enforceable property rights of the US dollar".
To increase security, the trust companies handle all money directly and the TrueUSD team has no access and is not involved in the transfer of deposited funds. If the user has completed the KYC process and has transferred funds to the third-party trust accounts, a corresponding amount of TUSD will be freshly passed to their Ethereum address.
To purchase TUSD or redeem TUSD through the web application, you must provide your name, tax ID, address, date of birth, government ID, and address verification in accordance with the applicable BSA/AML regulations (if the user is not on the Web site of the Company is USA).