“Stablecoins are the new black,” according to a number of well-known commenters in the cryptocurrency world. And there’s a reason for that.
Enter TrueUSD, which not only has a stablecoin, but has been putting it into action since launch. The result? After less than two months on the market, TrustToken — a platform that securitizes real-world assets and currencies using blockchains — has announced that its TUSD stablecoin has organically amassed over $12 million in circulation.
Stablecoins allows cryptocurrency traders to put their money into a non-volatile cryptocurrency. This gives them the benefits of an efficient store of value and cost-effective trading without the need to move cryptocurrency into and out of USD.
“TrustToken created TrueUSD to meet the strong demand we heard from traders to have a fully collateralized stablecoin,” TrustToken cofounder and CTO Rafael Cosman told me. “TrueUSD’s rise to over $12 million market cap in less than two months since its launch demonstrates the value of a price-stable cryptocurrency that is truly redeemable for USD.”
This is not just investors backing a good idea — it