TrueUSD is a digital currency that is pegged to the U.S. dollar at a 1:1 ratio. It was first introduced to a select group of investors in January 2018. TrueUSD is managed by TrustToken, a platform that creates tokens backed by real-world assets.
TrueUSD offers token holders regular proof of escrowed balances, full collateral, and legal protection against misappropriation of underlying USD. The team aims to create a stable trading instrument for cryptocurrency traders, enabling businesses and consumers to use the digital currency as a medium of exchange. TrustToken, a platform that creates tokens backed by assets that can be easily bought and sold globally, developed TrueUSD as its first asset token. TrueUSD can be exchanged 1-for-1 for US dollars and is backed by funds held in escrow by trusted fiduciaries and banks. TrustToken has partnered with these entities to ensure the security of the funds, and the funds are regularly verified by a reputable auditing firm. Additionally, an AML/KYC check is required to participate in the project, and TUSD offers fast, low-cost transactions. While TUSD may be overshadowed by competitors like Tether, it offers more security and features. As more investors enter the crypto market, TUSD’s success may grow.