TrueUSD (TUSD) is a stablecoin that aims to provide a reliable, transparent and fully collateralized alternative to traditional fiat currencies.
How to buy $TUSD with a payment card
1. Enter the amount of $TUSD and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $TUSD wallet
You are given the option to enter your $TUSD wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $TUSD with a credit and debit card.
TrueUSD (TUSD) is a stablecoin pegged to the US dollar, which means that each TUSD token is backed by one US dollar held in reserve by the issuer, TrueUSD TrustToken. The stablecoin is designed to provide users with a reliable and transparent alternative to traditional fiat currencies. As of February 2023, TUSD has a market capitalization of over $1 billion and is ranked #49 on CoinMarketCap. The stablecoin has been adopted by various exchanges, wallets, and other blockchain-based platforms, enabling users to trade and transact in a stable asset.
1. Technology and Platform: TUSD is an ERC-20 token built on the Ethereum blockchain, which means that it can be stored in any wallet that supports the ERC-20 standard. The stablecoin uses smart contracts to enable the creation and redemption of tokens, and the issuer is required to undergo regular audits to ensure that each TUSD token is backed by a corresponding US dollar held in reserve. The platform also offers features like on-chain attestations, which provide users with transparency and assurance that the stablecoin is fully backed by fiat reserves.
2. Team: TrueUSD is issued by TrustToken, a company founded in 2017 that aims to bring real-world assets onto the blockchain. The team behind TrustToken includes experienced professionals from the worlds of finance, law, and technology, with a track record of working at companies like Google, Goldman Sachs, and Stanford University.
3. Competition: TUSD faces competition from other stablecoins that are also pegged to the US dollar, such as Tether (USDT), USD Coin (USDC), and Dai (DAI). While each stablecoin offers slightly different features and benefits, they all share the goal of providing users with a stable and reliable asset for use in trading and transactions.
4. Supply: As of February 2023, the circulating supply of TUSD is 1,141,509,987 tokens, and there is no maximum supply. Each token is backed by one US dollar held in reserve by the issuer, and the total value of the reserve is regularly audited to ensure that it matches the total number of outstanding tokens. The lack of a maximum supply means that TUSD can be minted and burned as needed to meet demand, while the asset-backed nature of the stablecoin ensures that each token remains pegged to the US dollar.
1. Market Risk: The value of TUSD is tied to the US dollar, which means that any fluctuations in the value of the dollar could have an impact on TUSD. If the US dollar loses value, TUSD could lose value as well.
2. Regulatory Risk: Stablecoins like TUSD have come under scrutiny from regulators, particularly in terms of their compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. Any regulatory changes or crackdowns on stablecoins could negatively impact TUSD.
3. Centralization Risk: TUSD is issued by a single company, TrustToken, which means that there is a central point of failure. If something were to happen to TrustToken or its infrastructure, it could have a significant impact on the value and availability of TUSD.
4. Competition Risk: There are many other stablecoins on the market, including well-established options like Tether (USDT) and USD Coin (USDC). TUSD may struggle to gain market share and maintain its value in the face of competition from other stablecoins.
5.Liquidity Risk: The liquidity of TUSD may be impacted by market conditions, particularly during times of extreme market volatility or instability. If there is a lack of buyers or sellers, it could be difficult to buy or sell TUSD at a fair price.
Potential market development triggers
1. Increased adoption by exchanges: As more cryptocurrency exchanges add TUSD to their list of supported assets, the demand for the stablecoin could increase. This would also increase the overall liquidity of TUSD.
2. Integration with DeFi protocols: As decentralized finance (DeFi) protocols continue to gain traction, there could be an opportunity for TUSD to be integrated into various DeFi platforms. This would provide users with a stablecoin option within these protocols and could help to drive demand for TUSD.
3. Partnerships with merchants: If TUSD can establish partnerships with merchants and e-commerce platforms, it could provide users with a stable and reliable payment option. This could help to increase adoption and drive demand for TUSD.
4. Expansion into new markets: As the cryptocurrency industry continues to grow, there are opportunities for TUSD to expand into new markets. For example, TUSD could target countries with high inflation rates and provide users with a stable alternative to their local currency.
5. Asset-backed token offerings: TUSD's asset-backed stablecoin model could be utilized to create new asset-backed tokens. For example, TUSD could create stablecoins backed by specific commodities such as gold or silver. This would provide users with a stablecoin option that is tied to a specific asset, which could drive demand for TUSD.