How Does TrueUSD Work?

TUSD can be identified as a stablecoin which is backed 1:1 basis with US Dollar. According to the press release, there are more than 140 million TUSD in the circulation.

What is TrueUSD (TUSD)?

TUSD is backed by big corporations and venture capital firms such as Andreessen Horowitz, Block Tower Capital, and Danhua Capital. TUSD attracted 20 million dollars worth of investment in its first days and announced that it will use the funds for more token minting. The project keeps expanding and in the future, his can be a new liquidty source for the cryptocurrency. Trust Token CEO Danny An announced that TUSD is the first step in the making process of a system that consists of digital assets. Danny An shared that they will create different tokens too.

TUSD started with only 43 million coins and then expanded into 200 million coins very fast. Since every TUSD transaction made in bulks, it is not certain how these new coins minted or created. Newly minted coins are being held more than 1000 wallet and these coins are sent to exchanges over wallets. According to Etherscan data, the TUSD transaction volume has increased with the coin number increase too. This shows that Trust Token may have done an agreement with an institutional investor. Even though TUSD reached 200 million coins, it now reduced back to 144 million total coin numbers.

How can I purchase TrueUSD (TUSD)?

You can buy TrueUSD or TUSD from Binance cryptocurrency exchange.