About TrueUSD (TUSD)
TrueUSD (TUSD) is an ERC-20 stablecoin that was deployed on the Ethereum mainnet in 2018. Its primary utility is tied to its main goal of remaining as closely pegged to the value of the US dollar as possible.
TUSD is reportedly collateralized by USD held in escrow in bank accounts owned by Trust Companies. It is also said to be the first independently verified digital asset pegged 1:1 with the US dollar. As a result of the Ethereum Merge, TUSD transactions are validated using a proof-of-stake (PoS) consensus mechanism.
TrustToken, the San Francisco-based company that developed and launched TUSD, established the ecosystem to ensure all funds were verified through a network of multiple escrow accounts.
The Trust Companies managing the various accounts that hold the collateralized funds are obliged to publish the value of these funds daily, as well as to perform monthly audits. This process was established to lower the risk of TUSD hacks and theft and give TUSD holders legal protection against the same.
TSD price is updated and available in real time on Binance.
