TUSD is a price-stable cryptocurrency backed by US Dollars one-to-one. To mitigate counterparty risk and provide token holders with legal safeguards against misappropriation, the token uses multiple escrow accounts. TUSD is the first asset token created on TrustToken, an asset-backed token platform.
Users who enter the Crypto.com Wallet & Card App can now avoid volatility by transferring their funds to TUSD without incurring any fees or markups. Crypto.com also allows users to quickly convert cryptocurrencies to fiat currency before using the MCO Visa Card at over 40 million merchants.
"Stablecoins are an integral part of the ecosystem and a crucial piece of infrastructure driving cryptocurrency adoption globally," said Kris Marszalek, Co-Founder and CEO of Crypto.com. We're excited to now endorse TUSD, which joins a the list of cryptocurrencies that are finding real-world applications through our Wallet & Card App."
"With TrueUSD, we have the the volatility that has discouraged widespread cryptocurrency use, so everyday consumers and businesses can enjoy the tremendous benefits of digital currencies," said Jai An, co-founder and CEO of TrustToken. As we create the bridge between blockchain and the US$256 trillion in real-world assets, partnering with Crypto.com is a natural match.
TrueUSD is a completely collateralized USD-backed ERC20 stablecoin that is transparently checked by third-party attestations. To mitigate counterparty risk and provide token holders with legal safeguards against misappropriation, TrueUSD uses multiple escrow accounts. The first asset token created on the TrustToken platform is TrueUSD.
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