Best For

  • Traders
  • Financial Institutions
  • Exchanges
  • Investors

TrueUSD (TUSD) is a stablecoin pegged to the US Dollar. Issued and maintained by TrustToken, TUSD is recognized as the first stablecoin launched with a core focus on transparency. Users can purchase and redeem TUSD at a 1:1 rate on the TrustToken platform for US Dollars.

TrueUSD Stablecoin - 2020 Comprehensive Review

Overall Score:

8.5
Trusted
Liquidity:
8.5 of 10
Transparency:
9.5 of 10
Ease of Use:
8 of 10
Trust:
9 of 10
Fees:
8 of 10
Security:
9.5 of 10

Listed and trusted by major exchanges, TrueUSD is one of several emerging stablecoins playing a significant role in the blockchain ecosystem.

TUSD’s established market presence has greatly improved the overall perception and reputation of stablecoins as a result of being the first fully transparent stablecoin on the Ethereum blockchain.

TrustToken is expected to launch more tokenized currencies in the coming year - with TCAD, TAUD, and TGBP, and THKD already announced.

Find out below if TUSD is the ideal stablecoin for your needs.

Note: Additional use cases for TUSD currently include interest bearing accounts, crypto loans, and margin funding.

TrueUSD Stablecoin Overview

TickerTUSD
Current Price$1.00
24H Volume$62,671,129.08
Market Cap$331,220,785.00
Circulating Supply330,838,673
Market Rank50
Collateral TypeFiat-Backed
Base CurrencyUSD
ExchangesKucoin, Binance, Upbit, OKEx, KyberSwap, Bittrex Global, Bitfinex, Huobi Global, Gate.io, Binance DEX, IDEX, Uniswap, HitBTC
BlockchainsEthereum
Hardware WalletsLedger, Trezor
Deposit InsuranceYes
Audit FrequencyMonthly
Minimum Purchase1000
Minimum Redemption1000

About TrustToken Company

TrustToken is an asset tokenization platform that intends to bring the benefits of blockchain technology to traditional asset classes. Currencies, precious metals, real estate, and more are expected to be tokenized - introducing the appealing potential for fractional ownership to investors.

TrustToken believes the tokenization of these traditional assets will enable investors to access previously illiquid opportunities on a global scale.

A compliance first approach, strong backing (a16z, BlockTower Capital, Stanford-Startx Fund), and an experienced team have all led to the early success of TrueUSD.

What Is TUSD?

TUSD is the first asset token created on the TrustToken platform.

It represents tokenized US Dollars on the Ethereum blockchain and enables immediate entry and exit to crypto markets without the settlement time constraints that occur with traditional banking.

TUSD is an ERC20 standard token, enabling operation within the expansive and rapidly evolving Ethereum blockchain ecosystem. Open source smart contracts power TUSD transactions available to users 24/7/365.

The issued and circulating supply is fully collateralized and backed by USD in FDIC insured bank accounts.

How Does TUSD Work?

TUSD uses smart contracts on the Ethereum blockchain in order to provide a tokenized version of the US Dollar.

When TUSD is purchased from TrustToken with USD, a smart contract automatically creates and issues the equivalent amount of TUSD to the circulating supply.

When TUSD is redeemed from TrustToken, that smart contract in turn automatically destroys and burns the amount of TUSD withdrawn from the circulating supply.

Currently there are no fees to purchase and redeem TUSD with TrustToken. TrueUSD earns revenue for TrustToken by accumulating interest on the USD held in company accounts.

Traders know they can redeem TUSD for USD at spot with TrustToken, creating natural market arbitrage opportunities that lead to the stablecoin maintaining its peg to the dollar.

Is TUSD Safe?

TUSD is currently one of the safest stablecoins available:

Regulated & Compliant - TrustToken is fully licensed and operates within the required legal framework of US regulations.

Audited - Monthly attestations and reports by Cohen & Co ensure that TUSD maintains collateralized funds held in escrow to back it’s issued supply.

Insured - Token holders are legally protected against misappropriation and TrustToken company accounts are FDIC insured.

Multi-Party Escrow - TrustToken utilizes third party trust companies to eliminate their direct access to user funds.

Security - TrustToken’s smart contracts have been independently audited by three separate security firms with no reported issues to date.

Why Use TUSD?

  • Investors and traders can enter crypto markets without immediate exposure to volatility.
  • Investors and traders can quickly exit volatile crypto markets to the stability of TUSD.
  • Audits are published monthly confirming the circulating issued supply is collateralized 1:1 with US Dollars in FDIC insured bank accounts.
  • TUSD can easily be stored in personal ERC-20 compatible wallets, reducing third party risks to the users holdings.
  • Liquidity and trading pairs are increasing month over month.

Purchase & Redeem TUSD

*In order to purchase and redeem TUSD through TrustToken directly, users must complete a KYC (Know Your Customer) process.

Purchase Process:

  1. Create an account:Trust Token Portal: Purchase and Redeem TrueCurrencies
  2. User wires funds to the partnered trust company escrow account. Trust company automatically notifies the TrueUSD smart contract that funds have been received.
  3. The equivalent amount of TUSD is minted and sent to the Ethereum address provided by the user.
  4. User is now in possession of TUSD

Redeem Process:

  1. User sends the desired redemption amount in TUSD to the TrueUSD smart contract found in their account dashboard.
  2. The TrueUSD smart contract then automatically notifies their partnered trust company where funds are escrowed.
  3. The partnered trust company then wires the equivalent USD amount to the user’s specified bank account.

*TrustToken does not currently charge any fees to purchase or redeem TrueUSD, however the user may incur charges from their respective bank.

TrueUSD (TUSD) Exchanges

ExchangeRatingPricePairs24hr Volume
Binance8.5/10$1.0014$5,202,961.18
HitBTC3.5/10$1.0013$340,088.90
OKEx7.5/10$1.002$299,826.10
Bittrex Global6.5/10$1.004$136,290.16
Huobi Global8/10$1.001$37,400.63
Kucoin7.5/10$1.004$11,764.17
Gate.io6.5/10$1.001$2,938.14
Bitfinex7/10$1.002$1,570.57
Upbit10/10$0.952$131.32
KyberSwap7.5/10$1.001$33.73
Binance DEX5.5/10$1.153$0.00
IDEX6/10$0.000$0.00
Uniswap7/10$0.000$0.00

*We only include exchanges that pass our reputability standards

*Minimum monthly average 24h volume of $10,000 USD

TrueUSD (TUSD) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Any software, browser based, or hardware wallet that supports the Ethereum standard ERC-20 can be used to store TUSD.

Detailed information, reviews, and best security practices for cryptocurrency wallets is readily available in our complete guide to cryptocurrency wallets.

For substantial TUSD balance holders, Blockfer strongly recommends the use of a personal hardware wallet.

TrueUSD Borrow Rates

PlatformAPR RateCollateral LTVLoan Amounts
Celsius Network3.46% - 6.26%25% - 50%$1,500 - $1,000,000
Nuo Network6.72%50% - 70%$25 - $40,000

TrueUSD Interest Rates

PlatformAPY RateLockup TermsDeposit Amounts
Nuo Network0.00%Flexible$1 - $50,000
Celsius Network11.55%Flexible$1 - $100,000
Nexo8%Flexible$1 - $2,000,000
Crypto.com6% - 10%3 Months$25 - $1,000,000

TrueUSD Stablecoin Alternatives

Rating8.5/109.5/108/10
Collateral TypeFiat-BackedFiat-BackedCrypto-Backed
Audit FrequencyMonthlyMonthlyPublic Smart Contract
Deposit InsuranceYesNoNo
Incorporated CountryUnited StatesUnited StatesSwitzerland
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • ERC20 - TrueUSD can easily be stored in personal hardware wallets where users maintain ownership over the private keys.
  • Liquidity - TrueUSD trades with reasonable volume on several top exchanges, including Binance and Bittrex.
  • Audited - Audits are performed monthly by the accounting firm Cohen & Company, ensuring customers that TrueUSD tokens are in fact backed 1:1 by USD.
  • Legally Compliant - TrueUSD is a fully regulated, licensed, registered US entity.
  • FDIC Insured - Company bank accounts are insured up to $250,000.
  • Multiple Currencies - TrustToken has issued TrueGBP, TrueAUD, & TrueCAD with more currencies planned in the future.

Cons

  • Centralized - TrueUSD can be frozen or even confiscated in the event that TrustToken has reason to believe users have broken the terms and conditions of use, more specifically - the laws and regulations the company abides by.
  • KYC (Know Your Customer) & AML (Anti Money Laundering) - Required for purchase and redemption. While we are hesitant to list this as a negative aspect, there are individuals in the blockchain space that believe privacy is mandatory.

Frequently Asked Questions

What is TrueUSD (TUSD)?

Is TrueUSD (TUSD) an ERC20?

Is TrueUSD (TUSD) safer than Tether (USDT)?

Where can I buy TrueUSD (TUSD)?

Can I earn interest on my TrueUSD (TUSD)?

Summary

TrueUSD has emerged as a legitimate contender in the stablecoin marketplace. Transparency, maturing liquidity, and a compliance first approach has cemented its status as an alternative to USDT.

The Ethereum blockchain has proven capable of providing the necessary security, wallet infrastructure, and smart contracts required for TUSD to thrive.

In the coming years TrustToken expects to issue additional currencies as stablecoins as well as tokenized fractional ownership for asset classes including real estate, gold, and bonds.

Learn More Best Features

TrueUSD Official Website

  • Has always provided monthly attestion and now features a real-time attestion dashboard.
  • Easy access to other international stablecoin currencies in the TrueToken Platform. Trade TUSD to TAUD, TCAD, THKD, and TGBP.
  • Good market liquidity on BTC/TUSD pairs on major international exchanges like Binance and Okex.

Legal & Regulation - Facts & Figures

Legal NameTrustToken, Inc.
Incorporated CountryUnited States
HeadquartersSan Francisco, CA United States
Year Founded2017
CEOJai An
Total Employees20-50
Regulators Money Services Business with FinCEN
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The stablecoins found in this category have been researched extensively by our team as part of the review process. Factors we analyze in our stablecoin reviews and comparisons include: trading volume, listings, purchase and redemption process, issuer trust, collateral type, borrow rates, interest rates, and wallet compatibility.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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