From CryptoMarketsWiki
Jump to: navigation, search

Trust token logo.png
Founded 2018
Headquarters San Francisco, California
Key People Danny An, Co-Founder and CEO; Rafael Cosman, Tory Reiss, and Stephen Kade, Co-Founders
Products Stablecoin
Twitter @TrustToken
LinkedIn Profile
Website TrueUSD
Blog TurstToken

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.[1]

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.[2]

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.[3]