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TrueUSD (TUSD) is a cryptocurrency that is designed to be a stablecoin that is pegged to the US dollar. It is a regulated, collateral-backed stablecoin that is designed to be a reliable, transparent and trustworthy alternative to other cryptocurrencies. TrueUSD is one of the most popular and widely used stablecoins in the cryptocurrency space.
TrueUSD was created in 2018 by TrustToken, a financial technology company based in San Francisco. The company is backed by venture capital firms such as Andreessen Horowitz and BlockTower Capital.
TrueUSD is an ERC-20 token built on the Ethereum blockchain. The token is fully collateralized, meaning that each TUSD token is backed by one US dollar held in escrow accounts. The funds are held in multiple banks located in the United States and spread across different jurisdictions. The banks are regulated by the FDIC and the Federal Reserve.
The TrueUSD token is designed to provide users with a stable and reliable store of value. By being backed by a fiat currency, it is not subject to the same volatility as other cryptocurrencies. This makes it a great alternative for those looking to use cryptocurrency for real-world transactions.
The TrueUSD token is also designed to be a secure and transparent way to store value. All transactions are recorded on the Ethereum blockchain and are fully auditable. This ensures that all transactions are secure and can be tracked.
TrueUSD is designed to be a reliable and trustworthy alternative to other cryptocurrencies. The token is fully regulated and compliant with all applicable laws and regulations. The funds are held in FDIC-insured banks and the company is audited by a third-party firm.
TrueUSD is one of the most popular and widely used stablecoins in the cryptocurrency space. It is an attractive option for those looking for a reliable and secure way to store value. The token is also a great way to hedge against the volatility of other cryptocurrencies.