This past 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. TrueUSD aims to offer a more stable trading instrument for cryptocurrency traders — an alternative to Tether — by enabling consumers and businesses to use a cryptocurrency as a medium of exchange. Bittrex traders may now trade into TrueUSD, a stablecoin that is 100% legally backed by US Dollars.
“TrustToken launching TrueUSD on Bittrex means that people can now conveniently trade into a stablecoin that is 100% fully collateralized in USD and independently verified by third-party accounting firms,” TrustToken CTO and co-founder Rafael Cosman told Crowdfund Insider via email. “The market has shown there is a need for a trustworthy trading pair between cryptocurrencies and US Dollars, which is why we are committed to publishing regular attestation reports.”
TrueUSD aims to offer token-holders full USD collateral, regular attestations (starting with this one), and legal protections to redeem TrueUSD for USD, allowing individuals and institutions to trade cryptocurrencies while mitigating the extreme price volatility of the