Where TrueUSD is Accepted Locally and Globally
Some cryptos live up to their names, TrueUSD is one of them — it’s dollar-backed and one of the most popular stablecoins. Having achieved a top 100 CoinMarketCap rank and riding on the credibility of the greenback, it’s accepted by businesses around the world as payment, from a Canadian coffee store to a Vietnamese e-commerce store.
Who accepts TrueUSD…
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Should you buy TrueUSD?
Not as an investment, as it’s pegged to the US Dollar, and dollar-backed stablecoins are of course oxymoronic thanks to the insane spending of the US government. But, stablecoins are not really supposed to be investments, they are supposed to serve as on and off-ramps from the fiat world to cryptocurrency exchanges. And they also serve cryptocurrency traders who want to stabilize the profits they’ve made.
What makes TrueUSD special is that they are partnered with registered fiduciaries; trust companies, highly regulated banks, and financial institutions that hold their dollar reserves in escrow — TrustToken, the Berkely-based team behind the stablecoin, does not even have access to these reserves. These reserves are audited monthly and published, assuaging the skeptic’s concern about the legitimacy of “digital dollars.”
TrueUSD aims to unseat Tether, the enormous and well-known fraud. Tether is, I contend, a time-bomb that financial regulators are allowing to continue to tick because so that they can introduce heavy-handed regulation of cryptocurrency when it finally melts down. TrueUSD should be applauded for providing an alternative.
The first regulated stablecoin fully backed by the US Dollar. Access the highest trading volume and liquidity on exchanges of any trusted stablecoin.
Blockchains, or distributed ledgers, have quickly gained adoption as one of the most promising technologies to emerge in the last ten years. They bring the potential to maintain public, yet secure, ledgers of all sorts of data ranging from supply chains to voting records. Many governments and Fortune 500 companies have started dedicated blockchain divisions to begin leveraging the technology; including Microsoft, Amazon, the EU, and others.
One of the most exciting applications of this new technology is its ability to act as an alternative payment rail. Similar to SWIFT, but available globally, more secure, and much faster at settling transactions. TrueUSD (TUSD) emerged as an early leader in the space in March of 2018.
TUSD is tied directly to the value of the USD. TUSD is fully backed 1-to-1 with USD held in escrow accounts for the benefit of TUSD token holders, it can be transferred to people anywhere in the world for $0.01, and can be redeemed for the underlying fiat USD after completing a KYC/AML check.
The industry is still in the earliest days of discovering the value that stablecoins can unlock and we are always seeking partners in this process of discovery
From the introduction of the TrueUSD whitepaper