True USD (TUSD) - the first legally secured USD cryptocurrency! It just added on coinmarketcap.com and already traded on Bittrex.
Today there was information from the team of developers of Trust Token that "from today, traders can easily trade a stable coin, which is 100% guaranteed by the US dollar."
True USD offers tokens holders full dollar security, regular attestations and legal protection regarding the purchase of True USD for dollars.This allows individuals and legal entities to trade in crypto-currencies, curbing the extreme volatility of prices on the market.
Today token True USD (TUSD) is added to the platform kriptobirzhi Bittrex.
What True USD (TUSD)?
True USD is a crypto-currency with a stable price, provided by the US dollar. Each TUSD token is secured and can be redeemed for 1 US dollar.
If you own the True USD token, pass a KYC / AML check and comply with our terms of use, you have a legally enforceable right to exchange these tokens for money using True USD escrow accounts. Also, anyone who has an account on Bittrex, can trade tokens True USD.
This realization became possible due to legal and technical tokenization of the US dollar through the TrustToken platform. Trust Token is a platform for tokenizing real currencies (such as US dollars and yen) and assets (such as real estate, art, etc.).
Why TrueUSD is first launched on Bittrex
Bittrex has a well-established KYC system / compliance standards.
Bitrex is often used by institutional traders.
Ultimately, True USD is designed to meet the trading needs of a large number of individuals and institutions. True USD tokens are stored in a legal structure (escrow accounts) that are familiar to foundations and institutional traders. This new trading pair will strengthen the interest of institutional traders in Bittrex.
Bittrex is the largest crypto exchange in the US.
For Traders
Trading pair: BTC / TUSD
Currently only the pair BTC / TUSD is available. Developers are working on creating other trading pairs. So for now, to convert Tether or other tokens into True USD, you need to use Bitcoin.
How to exchange True USD
Anyone who has an account on Bittrex can use the exchange to exchange True USD for BTC.
Price
TUSD/USD $ 1.00
TUSD/BTC 0.00009261
You will be able to exchange True USD tokens only for the same amount of US dollars deposited.
Over the next few weeks, there may be an increased demand. During the first week we intend to keep the price of TrueUSD within 5% of $ 1 and constantly reduce the spread.
Team and partners
The TrustToken project was founded by a team whose members have experience at Stanford University, the University of California at Berkeley, Palantir and Google. The project is supported by Stanford-StartX, Founders Fund Angel, FJ Labs and BlockTower Capital. The company has developed a legal framework for secured crypto currency in cooperation with Cooley, WilmerHale and Arnold & Porter and has an ever-growing network of fiduciary, corporate and banking partners.
Official website: https://www.trusttoken.com/
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