Key metricsKey metrics
PricePrice$1.0030
Asset TypeAsset TypeStablecoin
StructureStructureFor Profit Company
Project StatusProject StatusWorking Product
OwnershipOwnershipTrade Restriction
SectorSectorCurrency
IndustryIndustryBlockchain
FoundedFounded9-Jul-1905
Funds raisedFunds raised21.7M
CountryCountryUnited States
Key personKey personDanny An

TrueUSD (TUSD) Information{coin_name} ({symbol}) Information

The only regulated, exchange-independent stablecoin backed 1-for-1 with US Dollars

TrueUSD claim to be a stablecoin that you can redeem 1-for-1 for US dollars. TrueUSD is the first stablecoin built on the TrustToken platform.
Utility of the coin/token
Means of exchange (Currency)

Team OverviewTeam Overview

Danny An
CEO & Cofounder
Rafael Cosman
CTO & Cofounder
Stephen Kade
COO & Cofounder
Charles Christofilis
Director of Compliance & Legal Counsel

I’m a general counsel and chief compliance officer who applies my legal and financial acumen to help investment firms and financial institutions improve performance, mitigate risk and seize market share. I interact with global regulators and corporate boards while developing comprehensive compliance programs and conflict-check processes to ensure sound operations. Currently, I’m with TrustToken, a platform that serves as a bridge between Blockchain and nearly $260 trillion in real-world assets. Blockchain is the future. It allows people to create global exchanges at little cost. Transactions take minutes. It’s simple. It fosters financial inclusion for developing nations. It’s a game changer.

Patty Weng
Operations

OrganizationsOrganizations

TrustToken Inc.

Company NumberCompany Number CIK: 0001737792
325, 9th St., San Francisco, California 94103

Questions and AnswersQuestions and Answers

What is TrueUSD?
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.
What is TrustToken?
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.
Who can use TrueUSD?
We’ve designed the alpha version to address the immediate needs of crypto exchanges, crypto traders, and financial companies. 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 you 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”. In the alpha version of TrueUSD, redemptions will be restricted to a $10,000 minimum. Anyone can use TrueUSD once they are listed on exchanges. In the 1.0 release of TrueUSD, we will lower our redemption minimum to allow for lower volume redemptions. Why this sequence? We’re opening access gradually so that stability can be maintained from the beginning.
How do I know my funds are secure when I wire them to the bank account?
We partner with licensed trust companies and banks to securely hold the funds backing TrueUSD tokens. For increased security, the trust companies handle all funds directly and the TrueUSD team does not have access, nor is involved in the transfer of, the escrowed funds. When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder. The legal privileges of token holders are described in the TrueUSD Terms of Use.
Do I have to go through the KYC/AML process?
Yes. In order to purchase TUSD or redeem TUSD through our web application, current BSA/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification (if your country is not in the US).
Which exchanges will you be listed on?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and over 20 other exchanges.
Why do you use escrow accounts and banks?
We’re taking a practical, hybrid approach to tokenizing US Dollars. Someday, governments might enable digital signatures for smart contracts or DAOs to directly own bank accounts. That would be more “purely decentralized.” If/when that happens, we’ll celebrate the victory for the crypto industry and start building tools to help people make use of that new regulation. Today, if a person or company wants to open a bank account, it requires a human representative. So until banks allow smart contract signatures, we’re building on one of the best-known, frequently-tested system for bank account management: escrow accounts. Escrow accounts are already widely used for fund management. We recognize that escrow accounts aren’t the endgame for decentralized money and tokenized asset management, but the trust and escrow industry already work well for the management and distribution of assets. Escrow accounts and trust accounts operate on similar legal frameworks, and we’ll use both for tokenizing different asset classes. See this blog post on trusts for more details. Link: https://blog.trusttoken.com/why-trusts-flexible-legal-buckets-that-can-own-and-manage-anything-2b59d4a8f0c9
Will TrueUSD tokens be classified as securities?
Our legal counsel has provided a memorandum that TrueUSD tokens are not securities. They are more akin to deposit & safekeeping receipts, which the SEC has previously analyzed and recommended no enforcement actions for their use (see 40 Fed. Reg. 1695 et. seq).
Why US Dollars? Do you plan to offer other currencies?
USD is already the industry standard and used as the fiat currency base trading pair. We’re starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Are you trying to compete with algorithmic stablecoins like Basecoin or MakerDAO?
No. We think we will be complementary. The crypto economy needs diverse options for stable cryptocurrencies. We’re excited for algorithm-based possibilities, but they haven’t yet been proven in the market. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account. In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies. Traders will reasonably seek opportunities to diversify their stable crypto holdings. Asset-backed “stablecoin” applications built on TrustToken are similar by name but have a substantially different customer base: at least in the near term, we expect that crypto startups will be comfortable with algorithm-based stablecoins, but traditional financial institutions will prefer asset-backed tokens. It’s reasonable for investors to want exposure to multiple stablecoin categories, as a bet on the industry’s need for a stablecoin. It’s similar to how investors might buy both ZCash and Monero as a way to get exposure to the market’s demand for privacy coins. Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.

TechnicalTechnical

Key metricsKey metrics
Token InformationToken Information
TrueUSD is a token on the ETH platform using the ERC-20 standard. The address of the token contract is 0x8dd5fbce2f6a956c3022ba3663759011dd51e73e.

Source Code Repositories

trusttoken/true-currencies 115 Stars 7 Contributers 7 Open Issues

TrustToken smart contracts

trusttoken/registry 10 Stars 5 Contributers 0 Open Issues

On-chain registry for Ethereum addresses that have passed KYC/AML or other checks

trusttoken/TrustToken-smart-contracts 7 Stars 2 Contributers 0 Open Issues

The TrustToken smart contracts for staking on asset tokens such as TrueUSD

EconomicsEconomics

Tradeable CoinsTradeable Coins
201,186,536 (100% of total) ({tradeable_of_total} of total)

Rich List Addresses holding the largest balances

AddressAddress AmountAmount NameName
0x4e9ce36e442e55ecd9025b9a6e0d88485d628a67 80,056,819.2136299 Binance 6
0x030e37ddd7df1b43db172b23916d523f1599c6cb 7,000,000
0xfbb1b73c4f0bda4f67dca266ce6ef42f520fbb98 4,960,720.9363238 Bittrex 1
0x3f5ce5fbfe3e9af3971dd833d26ba9b5c936f0be 3,359,801.80134176 Binance 1
0x0541217f550104878f8b64ccabba91d370abb7bc 2,946,788.88
0xeee28d484628d41a82d01e21d12e2e78d69920da 1,500,124.95312773 Huobi 4
0x08aa897f06ab0fda61b1994ac1fdf5a20d90302f 1,262,430.83799481
0x72bcfa6932feacd91cb2ea44b0731ed8ae04d0d3 1,219,916.40428527 Cashierest
0xa688c4a155c1579af484b959eebafb9dbd989c44 1,161,017.52764765
0xe90fc0052955f39d722fd5924b3765d664fd4845 1,093,367
0xa629dde4cc76b0157575a7bbcfc18bc686dd8978 1,008,691.72406664
0xa1dcd6ed300732a4f3b2227953c1aa17f957efe4 1,000,001.45
0x7951de819acd64bc2c97f887a8f53600ccaacab3 1,000,000
0x637541f5cd999b4d6631fb0a549a2aa07c21db85 990,937
0x8cbed0232128eeedfca86571902315edb91a6b7d 956,366
0xca7c767854b1e7305de07247ab85e30543d1d9c9 949,185.79190296
0xb8d2b921c0ea0ca27266fa63907a079ef25084d0 908,880.07577218
0xcfad7db936c1a11a86d41ce4345eee4f8d66a3c6 900,000
0xd3e896bce7eb0f971e14614735bc88001e903366 891,943.888
0x008024771614f4290696b63ba3dd3a1ceb34d4d9 871,340.35149899

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance BTC/TUSD $1.0036 0.07% $5,402,249 0.05% 0.13%
Binance TUSD/USDT $1.0016 -0.14% $4,563,664 0.02% 0.03%
Binance ETH/TUSD $1.0036 0.07% $698,362 0.17% 0.22%
Binance USDC/TUSD $1.0036 0.07% $532,524 0.1% 0.1%
Bittrex TUSD/BTC $1.0047 0.17% $500,523 0.01% 0.61%
Binance XRP/TUSD $1.0036 0.06% $327,742 0.34% 0.47%
Binance PAX/TUSD $1.0036 0.07% $265,854 0.07% 0.07%
Binance BNB/TUSD $1.0036 0.07% $245,261 0.28% 0.28%
Binance LTC/TUSD $1.0036 0.07% $213,150 0.29% 0.4%
Binance ADA/TUSD $1.0037 0.07% $138,242 0.35% 0.59%
Binance LINK/TUSD $1.0036 0.07% $105,304 0.65% 0.66%
Binance TRX/TUSD $1.0036 0.06% $98,045 0.54% 0.54%
Binance EOS/TUSD $1.0036 0.07% $84,305 0.33% 0.39%
Binance NEO/TUSD $1.0036 0.07% $46,303 0.69% 0.7%
Bitso TUSD/MXN $1.0056 0.26% $38,138 0.92% 1.1%
Binance XLM/TUSD $1.0037 0.07% $23,392 0.37% 0.37%
Bittrex TUSD/USD $1.0000 -0.3% $20,376 0.2% 0.3%
Binance BTT/TUSD $1.0036 0.06% $15,886 0.78% 2%
Gate.io TUSD/USDT $1.0000 -0.3% $12,793 0.3% 0.7%
Binance ZEC/TUSD $1.0036 0.07% $7,172.68 0.53% 0.58%
Binance WAVES/TUSD $1.0036 0.07% $4,782.14 0.9% 2.7%
Binance BAT/TUSD $1.0036 0.06% $4,491.67 0.73% 1.1%
Binance ATOM/TUSD $1.0036 0.07% $3,477.90 1.4% 2.9%
Bittrex TUSD/USDT $1.0015 -0.15% $2,204.64 0.15% 0.5%
Bittrex TUSD/ETH $0.9971 -0.59% $1,925.23 1.4% 1.4%
Binance GTO/TUSD $1.0036 0.06% $1,522.75 7.4% 21%
Binance ETC/TUSD $1.0036 0.07% $1,194.68 0.97% 3.8%
Binance BCPT/TUSD $1.0036 0.06% $797.14 8.4% 8.5%
Bitso TUSD/BTC $0.9895 -1.3% $533.34 2.1%

Latest TrueUSD NewsLatest TrueUSD News

TrustToken on Twitter

https://t.co/XFXosjwWLT

TrueUSD on Twitter ReadRead 

TrustToken on Twitter

TrueUSD customers, learn about about TUSDB and how to move between Binance chain, ethereum, and your bank account here: https://t.co/umxSIxPldP

TrueUSD on Twitter ReadRead 

TrustToken on Twitter

Big news today as TrueCurrencies become multi-chain products (now on Binance chain in addition to ethereum). For more information please read the post and our FAQ that we'll tweet in a moment. ?@cz_binance? ?@Binance_DEX? ?@binance? https://t.co/D6PrApf6c7

TrueUSD on Twitter ReadRead 

TrustToken on Twitter

TrustToken Releases Five Stablecoins Built on Binance Chain https://t.co/mVYoKOGA7A

TrueUSD on Twitter ReadRead 

Mike Dudas on Twitter

.?@Binance_DEX? is going to list five stablecoins from issuer @TrustToken. TrueUSD is the first stablecoin to be listed on the exchange from the lot. https://t.co/ecG9eB6vsh

TrueUSD on Twitter ReadRead 

TokenPay 💳 on Twitter

#TPAYNEWS ?? We are proud to announce that on the 5th of August the following TPAY Trading Pairs will be available for trading @efinexchange: @MakerDAO DAI / MKR @0xProject @omise_go @TrustToken @AttentionToken @AugurProject @tenxwallet Welcome to eFIN! Your TokenPay NEWS Team

TrueUSD on Twitter ReadRead 

TrustToken on Twitter

The rumors are true! We're thrilled to announce our deeper partnership with @BitrueOfficial providing a way to deposit USD or HKD directly into TUSD or THKD on Bitrue. We have a more exciting news to come re: this partnership, so keep your eyes peeled :)… https://t.co/TQSCDXrpGO

TrueUSD on Twitter ReadRead 

TrustToken on Twitter

Hey $TUSD users, please create a binance community account and upvote https://t.co/0CsU0zdqV8 We're excited to list our full TrueCurrency line TUSD, TAUD, TGBP, TCAD, and THKD on @binance chain.

TrueUSD on Twitter ReadRead 

NOWPayments on Twitter

Want some stable coins? We do have them: welcome @trusttoken's $TUSD, a coin with a great track record! @NOWPayments_io is a #cryptocurrency payment solution created to meet the needs of both merchants and shoppers ?? Accept payments in #TUSD with us! https://t.co/I4TNJHFZ6p… https://t.co/jKTucSzBjs

TrueUSD on Twitter ReadRead 

TradeBlock on Twitter

In 2019, #crypto stablecoin on-chain transaction volumes have risen considerably. Over the most recent quarter, the 5 largest #Ethereum based stablecoins have seen, in aggregate, greater transaction volumes than Venmo.… https://t.co/xWniZHEfob

TrueUSD on Twitter ReadRead 
This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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