This article was first published on Metal
What is a stablecoin?
Stablecoins are blockchain-based currencies that are pegged to the value of another asset or collection of assets, with the intent of keeping the price from experiencing the wild fluctuations that are common with traditional cryptocurrencies. The pegged assets can be fiat currencies, as well as other tradable assets such as gold and oil. This offers the security and settlement speed of a decentralized cryptocurrency, as well as relative assurance that the value held or transferred to another party may be somewhat protected from volatile cryptocurrency market conditions.
What is TrueUSD backed by?
The value of TrueUSD is pegged 1:1 to the U.S. dollar, acting as a stable currency for digital exchange.
TrueUSD (TUSD) is the first independently-verified digital asset fully collateralized by US Dollars. The ERC20 stablecoin uses multiple escrow accounts to reduce counterparty risk, provide transparent attestations, and offer legal protections against fraud.
TUSD users enjoy the lowest gas costs of any stablecoin thanks to GasBoost; easy wallet alias creation through Autosweep; and direct-to-bank TUSD transactions through unique, easy-to-remember Redemption Addresses.
TrueUSD is now trading on over 50 exchanges, including Binance, Huobi, OKEx, and Digifinex.
(and now available on Metal Pay)
Why choose TrueUSD over other stablecoins?
Early stablecoins were attractive to people wishing to preserve the value of their cryptocurrency holdings without needing to cash them out to fiat bank accounts. This was a promising advancement in the overall crypto ecosystem, but there were frequent problems with liquidity, as well as a lack of transparency and trust. It was difficult to verify the total amount of underlying assets available to back the stablecoin’s value.
TrueUSD is completely backed by U.S. dollars, which are not held by a single entity. The collateralized assets that support the value of TrueUSD are maintained by multiple ...
To keep reading, please go to the original article at: