- TrueUSD provides its token holders regular attestations of escrowed balances, full collateral, and also the legal protection against misappropriating underlying USD. - The team believes that TrueUSD will be able to come up with the stable trading instrument for the traders of cryptocurrency that has been longawaited. - This will allow the businesses and consumers to use the #digital-currency as a medium of an exchange. - The goal of the TrueUSD team was to build a coin that is stable and which can be used and trusted by them too. - TrustToken is a platform that creates the tokens backed by assets that can easily be purchased and sold all around the world. - The first asset token of TrustToken is TrueUSD, which is a stable coin and can be redeemed 1for1 for US dollars. - TrustToken have partnered with registered fiduciaries and banks for holding the funds securely backed by TrueUSD tokens. - To increase the amount of security, fiduciaries, and banks directly handle all the funds. - Escrowed funds do not give access to the TrueUSD system.TrueUSD works with various trust companies which already manage around billions of dollars. - Just pass an AML/KYC check, send USD to a trust company with an agreement of escrow. - When the funds get verified, their API tells the #smart-contract of TUSD to mint an equal amount of TUSD to your public Ethereum address.The USD funds are regularly verified in scheduled attestations by a very much trusted auditing firm. - USD funds are kept safely in a third party account, that is escrow accounts, wherein TrustToken does not hold any direct access to the funds and cannot abscond with them even if they wish to. - The token burning and minting system makes sure that every TUSD token is backed by 1 USD.A mandatory check of AML/KYC makes sure that TUSD keeps shady people away from the entire project. - TUSD makes faster transactions in low transaction fees. - Even though TUSD is a unique offering, it is most likely overshadowed by its bigger competitors Tether. - While TUSD arguably offers more security and features, it may be losing the marketing battle. - This is not to say that the situation will remain the same. - With more crypto investors joining the market every day, the good times for TUSD may be on their way..
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