In its recent announcement, TrustToken stated that now one of the biggest crypto exchanges, Bittrex enables the direct exchange of TrueUSD (TUSD) and Tether (USDT). Earlier this month, TrustToken launched this Tether clone cryptocurrency that is backed by a fixed US Dollar.Bittrex allows the direct exchange of TUSD and USDT
TrustToken announced that now TUSD, TrueUSD is directly tradeable with USDT i.e. Tether on the cryptocurrency exchange Bittrex. This direct trading will help in making cheaper and faster transactions from Tether into TUSD.
The cryptocurrency community is already worried about the non-transparent Tether and now its clone TrueUSD has jumped into the picture.
The TrustToken team stated:“We continue to be thankful to the entire team at Bittrex for partnering with TrustToken to give traders a variety of credible cryptocurrencies. The pairing of TrueUSD to Tether makes it both affordable and fast for traders to move funds into TUSD, the world’s only stable cryptocurrency that is fully collateralized and redeemable for US Dollars. Now, instead of moving funds from USDT (Tether) to BTC (Bitcoin) or ETH (Ethereum) and then TUSD USDT can be quickly and efficiently changed directly to TUSD.”
At the beginning of this month, TrustToken launched TrueUSD (TUSD) which is basically an asset-backed stable coin with its value fixed to a US Dollar. Every TUSD is always backed by the USD that is held in an escrow account of a professional fiduciary partner. The legal framework of TrustToken allows the token holders to exchange their TUSD into USD with an escrow account. It has been claimed that TrustToken doesn’t touch the user funds as in order to redeem or purchase TUSD, the trader gets access to the escrow account through the banking and fiduciary partners of the company.
The company aims to eliminate any counterparty risk that is commonly present in similar other coins. Continue on samnews.net