AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
In recent years, the world of digital currencies has experienced phenomenal growth. With over 25,000 cryptocurrencies, global market capitalization is around $1.45 trillion. As of Nov 10, 2023, the total daily crypto trading volume is $137.59 billion, with stablecoins contributing significantly, making up 72.22% of the entire crypto market 24-hour volume at $99.37 billion. From this data, it’s clear that stablecoins are vital in the crypto market. They are fundamental to maintaining the sanity of the crypto trading market, as they’re pegged to less volatile assets such as fiat currencies or commodities, ensuring a steady value amidst market fluctuations.
With all the buzz surrounding USDT and USDC stablecoins, one can’t help but question if TUSD will live up to its expectation as the first regulated stablecoin fully backed by the U.S. dollar that employs real-time attestations from independent third-party institutions to verify its underlying reserves.
In this article, we zoom in on TUSD: What it is, how it works, steps for buying the stablecoin and more.
Key Takeaways:
TrueUSD is a regulated stablecoin pegged 1:1 to the U.S. dollar, fully backed by cash reserves.
Its reserves are highly transparent, due to independent real-time attestations and on-chain availability of collateralization data and minting control through Chainlink's proof of reserves (PoR).
TrueUSD can be used on multiple supported blockchain networks, such as Ethereum, Tron, BNB Chain and Polygon.