Creation - March 2018
Standard of the token – ERC-20 Ethereum
Listing - https://coinmarketcap.com/currencies/trueusd/markets/
Market capitalization – $139 959 628 USD.
Coinmarketcap rating - № 37
Maximal price of the token over the time - $1,36 USD.
Minimal price of the token over the time - $0,917877 USD.
Website of the project - https://www.trusttoken.com
Facebook - https://www.facebook.com/TrustToken/
Twitter - https://twitter.com/trusttoken
TUSD cruptocurrency review
True USD – is a stable digital coin (stablecoin), that is an equivalent of real US dollar (1:1), being emitted by the project “Trust Token” - the platform for “digitalization” of real fiat currencies of the five continents (USD, GBP, AUD, CAD, HKD) and other assets.
The token is based on the blockchain Ethereum, and its smart contracts are created on the basis of the standard ERC-20.
Former “pets” and talents of California, Stanford, Carnegie and North-Western universities as well as ex-employees of Google, Palantir, Facebook, PayPal, Microsoft are in the team of developers of “Trust Token”.
Security of TUSD tokens by liquidity is ensured thanks to collaboration of “Trust Token” with entrusted (and verified) trust companies and banks, that are depositaries and guarantors of all the transactional operations between the tokens (smart contracts) and fiat money.
In other words, the number of emitted tokens corresponds to the number of really deposited money on bank escrow-accounts in the ration 1:1.
All the process from emission of the tokens to their exchange for real assets is built on smart contracts Ethereum, which allows users to conduct transactions up to 100 times cheaper and 1000 times faster than regular cashless remittances.
The mechanism of purchase of the tokens and their exchange for fiat looks as follows:
On the first image we see, that the procurement is made in three steps:
- Verification of the account (check of KYC/AML) and transfer of USD to the account of trust company or bank;
- Trust company confirms the information on verification of user’s deposit in USD to the smart tokens being created (by the platform “Trust Token”);
- “Trust Token” conducts the emission and transfers tokens TUSD to the address of a user (buyer).
On the second image we see the reverse process, when TUSD tokens are exchanged (sold) for fiat USD:
- A user exchanges TUSD. At that, the tokens are burned by “Trust Token”;
- “Trust Token” smart contract confirms the information on “burning” of tokens to a trust company or to a bank;
- The trust company or bank sends (credits) fiat USD to the requisites of the user.
Audit and complete transparency for holders of TUSD stablecoins and USD assets, deposited by them, are currently secured by Trust Explorer – an app, that is owned and controlled by the company “Armanino” – one of top 25 largest independent accounting and business consulting companies in USA, that has been on the market since 1953 and is an all-national leader in service of private companies, as well as non-commercial and pubic organizations.
“Armarino” has been providing audit, tax and consulting services to crypto companies, blockchains and exchanges from 2014 in more than 100 countries, thanks to membership in Moore Global – one of the largest global accounting and consulting organizations.
TUSD tokens can be held, received, sent at any point of time, exchanged and traded on more than 160 exchange and more than 20 off-exchange platforms of the five continents.
TUSD token has passed listing on various exchange platforms, including Inanomo and is traded in the pair combinations, such as TUSD/USDT, BTC/TUSD , ETH/TUSD, BCH/TUSD and so on.