TrueUSD (TUSD) Achieves Market Cap of $1.20 Billion

TrueUSD (TUSD) traded 0% lower against the U.S. dollar during the 1 day period ending at 21:00 PM ET on August 5th. One TrueUSD coin can currently be bought for approximately $1.00 or 0.00004297 BTC on cryptocurrency exchanges. In the last seven days, TrueUSD has traded up 0% against the U.S. dollar. TrueUSD has a market capitalization of $1.20 billion and $614.19 million worth of TrueUSD was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• BITCOIN ADDITIONAL (BTCA) traded up 2.7% against the dollar and now trades at $23,265.95 or 0.99990000 BTC.
• Binance USD (BUSD) traded down 0% against the dollar and now trades at $1.00 or 0.00004297 BTC.
• Crypto.com Coin (CRO) traded up 5% against the dollar and now trades at $0.41 or 0.00001075 BTC.
• Dai (DAI) traded 0% higher against the dollar and now trades at $1.00 or 0.00004297 BTC.
• Polygon (MATIC) traded up 3% against the dollar and now trades at $0.92 or 0.00003945 BTC.
• Mammoth (MMT) traded down 6% against the dollar and now trades at $0.85 or 0.00003632 BTC.
• yOUcash (YOUC) traded 0% lower against the dollar and now trades at $0.51 or 0.00002197 BTC.
• FTX Token (FTT) traded up 5.7% against the dollar and now trades at $30.76 or 0.00132216 BTC.
• Chainlink (LINK) traded up 6% against the dollar and now trades at $7.82 or 0.00033606 BTC.
• Geegoopuzzle (GGP) traded 2.6% lower against the dollar and now trades at $14.86 or 0.00063864 BTC.

TrueUSD Coin Profile

TrueUSD is a coin. It launched on March 31st, 2018. TrueUSD’s total supply is 1,227,899,014 coins and its circulating supply is 1,205,196,736 coins. The official website for TrueUSD is www.trusttoken.com. TrueUSD’s official Twitter account is @TrustToken.

According to CryptoCompare, “TrueUSD, part of the TrustToken asset tokenization platform, is a blockchain-based stablecoin pegged to the value of USD. In the TrueUSD system, U.S Dollars are held in the bank accounts of multiple trust companies that have signed escrow agreements, rather than in a bank account controlled by a single company. The contents of said bank accounts are published every day and are subject to monthly audits.  If someone wants to obtain TrueUSD through the online application, they will need to pass a KYC/AML check. Once that’s complete, they can send USD to one of TrueUSD’s trust company partners. Once the funds are verified by the trust company, their API will instruct the TrueUSD smart contract to issue tokens on a 1 to 1 ratio and to send them to the Ethereum address associated with the account at hand. Once in the wallet, the tokens can be transferred to a friend or used as payment, combining the advantages of fiat (stability and trust) with those of cryptocurrencies (reduced fees and transfer times). The user can also redeem real US Dollars by sending the TUSD tokens back to the smart contract address, which will notify the trust company, and initiate a bank transfer to the user’s account. “

TrueUSD Coin Trading

It is usually not presently possible to buy alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to acquire TrueUSD should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy TrueUSD using one of the exchanges listed above.