TrueUSD (TUSD) is a stablecoin cryptocurrency pegged to 1 USD and fully backed by collateral held in escrow by multiple third-party trust companies. TrueUSD was launched by TrustToken on 5 March 2018 on Bittrex and quickly grew because of transparency. The circulating supply is backed by multiple third-party trust companies holding an equal amount of funds in escrow. The funds held in escrow can be monitored in real-time and are verified by an independent third-party accountant that publishes monthly attestation reports.
TrueUSD on Ethereum is an ERC20 standard token that supports several additional features that simplify token management and reduce cost of use. The smart contract code is open-source.
Ethereum users can register redemption addresses which correspond to their bank account. Verified users send TUSD tokens to their personal redemption address from any wallet and US dollars are automatically wired to their bank account.
Ethereum users can register 220 Autosweep addresses, which automatically forward their balances to their recipient. This eliminates network fees for vendors or exchanges accepting payments or deposits from their customers.
TrueUSD uses less gas than all other ERC20 tokens on Ethereum because of GasBoost, which utilizes gas refunds from SSTORE and SELFDESTRUCT.
TrueUSD on Binance Chain is a BEP2 standard token listed on Binance DEX. TrustToken has promised support for atomic swap between the BEP2 and ERC20 versions of TrueUSD.
Where Can You Buy TrueUSD (TUSD)?
As one of the largest USD stablecoins, TUSD is freely available on major exchanges, with pairs for cryptocurrencies and other stablecoins available.
Among the largest volume currently belongs to Binance and DeFi automated market maker Curve.
New to crypto? Read our easy guide to buying Bitcoin and other cryptocurrencies."
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