The TrustToken Project is indeed an Ethereum-based dApp that generates asset-backed tokens and allows worldwide asset transfer. TrueUSD (TUSD) is the token (ERC-20) and stablecoin, linked to the U.S. dollar value.
TrueUSD gives periodic documents of escrow account balances to its token holders, full collateral, as well as legal protection against underlying USD misappropriation.
The begining of TrustToken:
During the ICO presale from July to August 2018, these participants invested $21.7 million worth of ETH.
TrustToken is supported by a number of high-pedigree investment companies, including a16z crypto, BlockTower Capital, Danhua Capital, Founders Fund Angel, GGV Capital, Jump Capital, and more.
Any Ethereum wallet compatible with ERC20, like MyEtherWallet and Nano hardware wallets, supports TUSD utility token.
TrueUSD works with different trust firms that are already handling across billions of dollars. Simply pass an AML / KYC test, send USD with an escrow agreement to a trust company. When the funds are checked, their API tells TUSD’s smart contract to provide your public Ethereum address with an equivalent TUSD.
You will need to pass an AML / KYC audit and send your TUSD token from a registered Ethereum address to the smart contract for USD redemption. You’ll then claim the money from the escrow fund. The TrueUSD program will not affect the funds in this process, and all receipt and purchasing of your money will be one by trust firms via escrow accounts.
How to buy TrustToken (TUSD)?
The TUSD coin is listed internationally and is paired with several major cryptocurrencies such as BTC, ETH, BNB, KRW, and USDT. It allows TUSD users to use their crypto assets to access or acquire the TUSD token, bypassing the need for KYC requirements.
There are plenty of exchanges accepting TUSD for trading. Among them you can find Binance, OkEx, Huobi. This major exchanges have large volumes and market depth providing a healthy economy to TUSD traders and holders.
Unlike its closest, and bigger competitors – Tether, which is riddled with controversies regarding its actual USD reserve backing, TrustToken is subject to regular scrutiny and stands up to its claims.