Coins
22,523
Market Cap
$2,630.94 B USD
24H Change

+0.26%

24H Volume
$49.17 B USD
Dominance
BTC: 50.17%, ETH: 15.98%
ETH Gas
3 Gwei

TUSD

TrueUSD

TUSD

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$0.9989 USD

N/A

(24H)

0.00001548 BTC

-0.88%

(24H)

TrueUSD Price Chart (USD)

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Market Cap (USD)

$494.67 M

24H VOLUME (USD)

$37.65 M

Circulating Supply

495.2 M TUSD

Max Supply

N/A

Total Supply

495.2 M TUSD

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General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0x0000000000085d4780B73119b644AE5ecd22b376


  • icon

    BNB Smart Chain (BEP20)

    TUSDB-888


  • icon

    Avalanche C-Chain

    0x1c20e891bab6b1727d14da358fae2984ed9b59eb


About TrueUSD

Rank #126

TrueUSD Price Summaries

Latest Data

TrueUSD’s price today is US$0.9989, with a 24-hour trading volume of $37.65 M. TUSD is +0.00% in the last 24 hours.TUSD has a circulating supply of 495.2 M TUSD.


What is TrueUSD?

TrueUSD (TUSD) is the first independently verified digital asset redeemable 1-for-1 in U.S. dollars. This multichain stablecoin uses traditional banks, escrow accounts, and third-party attestations to decrease counterparty risk, offer transparency, and prevent fraud.

A brief history of TrueUSD

TrustToken, a platform that creates asset-backed tokens, introduced TrueUSD in January 2018. The team behind TrustToken came from Stanford, UC Berkeley, Palantir, and Google, respectively, while the company’s backers included Founders Fund Angel, Stanford-StartX, and Blocktower Capital.

Seeing the difficulties of other stablecoins trying to create strong financial links and full backing, TrustToken decided to build a stablecoin named TrueUSD (TUSD). Each TUSD token is supported by one dollar and distributed using a TrustToken platform smart contract. TUSD has worked with certified fiduciaries and banks that hold the assets underpinning TUSD.

In March 2019, TrustToken entered into a partnership with accounting firm Armanino to provide a real-time view of the U.S. dollars backing TUSD. In December 2019, TrustToken and Armanino launched TrustExplorer, a stablecoin assurance platform that uses blockchain-enabled assurance technology to provide a key layer of trust and transparency to multiple digital asset ecosystems.

TUSD’s liquidity is supplied on various top exchanges and DeFi protocols, and is globally backed by major over-the-counter (OTC) desks with a reach to international consumers in over 120 countries. TUSD also virtually allows for immediate minting and redemption speeds with financial partners, including Signet by Signature Bank, the Silvergate Exchange Network (SEN), and PrimeX by PrimeTrust.

As of May 2022, TrustToken reported US$1.217 billion in reserves, matching closely to the US$1.215 billion in TUSD’s circulating supply.

How TrueUSD works

TrueUSD operates on the Ethereum blockchain by using Ethereum smart contracts. It is possible to issue and redeem a tokenised version of the U.S. dollar using these smart contracts.

When a customer uses U.S. dollars to purchase TUSD on the TrustToken platform, the smart contract underlying the platform automatically creates and issues the matching equivalent amount of TUSD, which forms part of the token’s circulating supply. In contrast, anytime a user redeems TUSD through the TrustToken platform, a smart contract automatically burns or removes the redeemed tokens from the circulating supply of TUSD. Simultaneously, the platform awards the user U.S. dollars equal to the amount of TUSD redeemed.

TrustToken does not impose purchase or redemption fees for transactions, which is one of the benefits of utilising TUSD. The firm generates revenues by collecting interest on U.S. dollars kept in company accounts. Because traders are fully aware of their capacity to purchase and sell TUSD at a 1:1 ratio using TrustToken, the market creates a natural arbitrage opportunity, maintaining the token pegged to the dollar.

What is TrueUSD used for?

Individuals and institutions utilise TUSD for a variety of reasons. One advantage is that it allows traders and investors to access the cryptocurrency markets without being exposed to volatility. It also enables the same investors and traders to quit the markets and avoid escalating volatility by focusing on TUSD’s stability.

TUSD claims to be the most transparent stablecoin, with monthly audits showing that the amount of U.S. dollars held in escrow in FDIC-insured U.S. bank accounts equals the amount of TUSD in circulation.

TUSD becomes more useful as the number of trading pairs and liquidity expands. It also promises minimised third-party risk, as TUSD may be redeemed or held in any ERC-20-compatible personal wallet.

More about TrueUSD

Website

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TUSD Price Statistics

TrueUSD Price

$0.9989

24h high / 24h low

N/A

7d high / 7d low

N/A

30d high / 30d low

N/A

90d high / 90d low

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All-time high / All-time low

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Trending

Currency Converter

Amount

TUSD

TUSD

1 TUSD = 0.9989 USD

Rate is for reference only. Updated

General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0x0000000000085d4780B73119b644AE5ecd22b376


  • icon

    BNB Smart Chain (BEP20)

    TUSDB-888


  • icon

    Avalanche C-Chain

    0x1c20e891bab6b1727d14da358fae2984ed9b59eb


TUSD Price Statistics

TrueUSD Price

$0.9989

24h high / 24h low

N/A

7d high / 7d low

N/A

30d high / 30d low

N/A

90d high / 90d low

N/A

All-time high / All-time low

N/A

Trending

Company

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