In late January, TrustToken, a global platform for tokenizing fiat currencies and real-world assets backed by Stanford-StartX, FJ Labs, and BlockTower Capital, launched TrueUSD, reportedly the first fiat-backed stablecoin to offer token-holders legally protected certificates of ownership of US Dollars.
This week TrueUSD engaged Cohen & Company, a Top 50 public accounting firm with cryptocurrency expertise, to independently confirm that the assets the platform holds adequately collateralize the outstanding TrueUSD coins that have been issued.
TrustToken said that each month Cohen & Company will perform an examination on whether management’s assertion that the Holdings Report Statement is fairly presented.
Staying true to its vision to build transparency and trust in TrueUSD, TrustToken noted that the platform will share the opinion letter with the community to demonstrate further that TrueUSD is a stablecoin fully collateralized by USD.
I recently had the opportunity to catch up with Stanford grad and cryptocurrency disrupter Cosman about his vision. Cosman also co-founded StreetCode Academy, which