1. Introduction
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.
TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
2. Who can use TrueUSD?
- Crypto Traders and Exchanges: Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
- Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now people can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
- Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
- Financial institutions: Financial companies that want to get into crypto, but have reasonable reservations against putting e.g. $100M into a new algorithmic stablecoin vs. $100M of “legally-enforceable certificates of ownership of the US dollar”.
3. Useful Links
- Website1: http://tusd.io/
- Website2: https://www.trusttoken.com/trueusd/
- Contract Address: 0x8dd5fbce2f6a956c3022ba3663759011dd51e73e
- Explorer: https://etherscan.io/token/0x8dd5fbce2f6a956c3022ba3663759011dd51e73e
