TrueUSD update: TUSD Live price, price chart, news and markets

The TUSD price update as of now is $0.9986. In the previous 24 hours, its trading volume was $53,482,269, and its value has increased by 0.11%. As of now, TUSD's live market cap is $494,834,351, and it is ranked as the #134 on the Coincu. TUSD has a circulating supply of 495,516,083 and a maximum supply of 495,516,083.

 

What Is TrueUSD (TUSD)?

TrueUSD (TUSD) is a stablecoin pegged to the US dollar at a 1:1 ratio. It was initially introduced to a limited group of investors in January 2018 and has since gained nearly $400 million worth of backed tokens as of October 2020.

TrueUSD is one of the stablecoins managed by TrustToken, a platform specializing in tokenized real-world assets.

Designed to provide increased liquidity and a stable asset for cryptocurrency traders and users, TrueUSD offers a more reliable and less volatile alternative to free-floating tokens like Bitcoin (BTC).

As of October 2020, TrueUSD holds the 38th position in terms of market capitalization among cryptocurrencies.

Who Are the Founders of TrueUSD?

TrustToken, the creator of TrueUSD, was founded by Rafael Cosman, who currently serves as the CEO.

Rafael Cosman has a background in cryptography and artificial intelligence (AI) and previously worked at Google Brain and Palantir. In 2017, he left Google to establish TrustToken.

Cosman has stated that TrueUSD is just the beginning of TrustToken's product line and that it required relatively little effort to create an impactful asset.

During the launch, he emphasized the importance of regular auditing for the stablecoin, providing investors with confidence in a highly volatile cryptocurrency market.

What Makes TrueUSD Unique?

TrueUSD aims to strike a balance between stability, utility, and security through regular attestations.

TrustToken has always highlighted the significance of independent verification of TrueUSD's origins. This aspect makes the stablecoin attractive to larger investors seeking reduced risk, as well as smaller private traders.

TUSD is described by TrustToken as "the first regulated stablecoin fully backed by the US Dollar."

TrueUSD is part of a growing stablecoin market, which includes various USD-backed assets. Tether (USDT) currently holds the top position as the largest stablecoin with a market capitalization of $15 billion as of October 2020, while TrueUSD stands at $382 million.

TrustToken has formed partnerships with different corporations to enhance its business activities, providing options for TUSD holders to increase passive income returns.

How Many TrueUSD (TUSD) Coins Are There in Circulation?

As of October 2020, there are approximately 381.9 million TUSD coins in circulation. The supply of TUSD is unlimited and will continue to expand based on demand.

TUSD is available in two versions: an ERC-20 token on the Ethereum blockchain and a BEP-2 token on Binance Chain, known as TUSDB.

TrueUSD maintains its redeemability for USD through partnerships with banks and fiduciary entities.

How Is the TrueUSD Network Secured?

TrustToken ensures maximum transparency by conducting real-time audits of TUSD's backing and reliability.

The security issues related to TrueUSD are similar to those affecting all ERC-20 tokens. For example, transactions may experience abnormally high fees if gas prices on the Ethereum blockchain spike.

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