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Trueusd

TrueUSD (TUSD)


TrueUSD (TUSD) is a stablecoin designed to maintain a one-to-one value with the US dollar. It is an ERC-20 token built on the Ethereum blockchain and is issued by the TrustToken platform. This stablecoin offers a fully collateralized model, ensuring that for every TUSD token in circulation, an equivalent amount of US dollars is held in escrow by a third-party trust.

Overview

TUSD maintains its value by being directly linked to the US dollar, with each token backed by a corresponding dollar held in an escrow account. The transfer of TUSD incurs a minimal cost of $0.01 and can be sent globally. Redemption of TUSD for fiat US dollars is possible after completing KYC/AML verification. Beyond TUSD, the platform offers other stablecoins like TGBP, TCAD, and TAUD, with reserves verified by third-party accounting firms through monthly attestations. Truecoin is advancing towards real-time data access through a live attestation dashboard developed with Armanino, a US-based accounting firm.

trueusd background
Ticker TUSD
Category Stablecoins
Website https://tusd.io/
Twitter @tusdio
Telegram TUSDofficial_EN
Contract Addresses
ethereum 0x00...76Copied!
tron TU...F4Copied!
binance-smart-chain 0x40...c9Copied!
avalanche 0x1c...ebCopied!
binancecoin TUSDB-888

How TUSD works

TrueUSD operates on the Ethereum blockchain using smart contracts to facilitate the creation and redemption of tokenized US dollars. When users purchase TUSD using US dollars on the TrustToken platform, smart contracts generate and issue the corresponding TUSD amount, adding it to the circulating supply. Conversely, when TUSD is redeemed, the platform credits the user with equivalent US dollars and smart contracts eliminate the redeemed tokens from circulation.

TrueUSD and Chainlink

In 2023, TrueUSD integrated Chainlink's Proof of Reserves technology to bolster security and transparency. This technology ensures that the total TUSD supply matches the US dollar reserves before minting new stablecoins. The process is automated, transparent, and relies on independent data feeds to maintain stability and reliability for TUSD users.

TrustToken platform

The TrustToken platform is a decentralized application on the Ethereum blockchain, launched in March 2018. It enables the creation of tokens backed by real-world assets, facilitating global value transfer. The platform has expanded its offerings to include tokenized currencies like TGBP, TCAD, and TAUD, with plans for additional currencies such as TEUR and THKD.

Payment use cases

JustMoney Pay

JustMoney, a payment product supporting multiple blockchain networks, has integrated BEP20-TUSD and TRC20-TUSD. This addition allows seamless payments on the BNB Chain and TRON network, aiming to enhance the adoption of cryptocurrencies for everyday transactions.

NowPayments

NOWPayments is a crypto payment gateway supporting over 150 cryptocurrencies, including TUSD, enabling businesses and merchants to conduct transactions with ease.

HYVE

HYVE, a Web 3.0 freelance and workforce marketplace, supports TUSD payments via the Ethereum network. HYVE fosters a decentralized community-driven ecosystem and supports cross-chain integration across Ethereum, BNB Chain, Polygon, and Fantom.

Legal tender of Dominica

According to the Crypto Ordinance of Dominica, TUSD, TRX, and other TRON-based cryptocurrencies are recognized as legal digital currencies for domestic economic activities, including tax payments. Their exchange rate with the Eastern Caribbean dollar is determined by the market.

Travala.com

Travala.com, a travel agency established in 2017, partners with numerous hotels, events, and airlines globally. Since 2020, it has accepted TUSD as a payment option for booking accommodations worldwide.

DeFi Wallet

The DeFi Wallet by Crypto.com supports AVAX-TUSD, CRC20-TUSD, and ERC20-TUSD, enabling users to trade over 300 cryptocurrencies.

TrueUSD and Wombat Exchange

In December 2022, TUSD was launched on Wombat Exchange, a decentralized exchange on BNB Chain. Users can swap TUSD with other stablecoins and earn WOM tokens by staking in the TUSD Liquidity Pool. Wombat Exchange is a multichain stableswap platform focused on enhancing user experience through innovative algorithm design.

TrueUSD and Velodrome

On September 20, 2022, TrueUSD introduced a pool on Velodrome for the TUSD-USDC liquidity pool. To enhance yields for liquidity providers, TrueUSD incentivizes veVELO holders to vote for the pool by offering TUSD rewards. Velodrome, an automated market maker on the Optimism blockchain, facilitates low-cost digital asset exchanges with minimal slippage.