|Headquarters||San Francisco, California|
|Key People||Danny An, Co-Founder and CEO; Rafael Cosman, Tory Reiss, and Stephen Kade, Co-Founders|
TrueUSD is a stablecoin, one unit of which is backed by $1.
According to CoinMarketCap, a cryptocurrency market data reporting service, it was the 18th most actively traded cryptocurrency in December 2018. By then, there were more than 200 million TrueUSDs in circulation.
TrueUSD units are created against the payment to TrustToken's designated partner banks. Frequent periodic attestations of the adequacy of the deposits are made by a Cohen & Co., a U.S.-licensed accounting firm. The escrow arrangements under which TrueUSDs are deposited were designed to provide a legally clear claim by the TrueUSD holder on the dollar deposits.
TureUSDs are distributed by TrustToken. TrustToken aspires to provide a platform for the digitization of assets, essentially securitizing assets like real estate or precious metals and issuing smart contract-based cryptocurrencies against them.