TrueUSD, the world’s first legally-backed stable cryptocurrency, is now trading on Bittrex - Only4Free - Cryptocurrency Connection

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TrueUSD, the world’s first legally-backed stable cryptocurrency, is now trading on Bittrex

TrueUSD, the world’s first legally-backed stable cryptocurrency, is now trading on Bittrex




TrueUSD (TUSD) is live on Bittrex.

Starting today, traders can easily and quickly trade into a stablecoin that is 100% legally backed by US Dollars. TrueUSD offers token-holders full USD collateral, regular attestations (starting with this one), and legal protections to redeem TrueUSD for USD. This allows individuals and institutions to trade cryptocurrencies while mitigating the extreme price volatility of the market.


A big thanks to the Bittrex team for their enthusiasm and efforts to launch this new market.

→ Learn more about TrueUSD: see the first independent attestation of the TrueUSD bank account, how to purchase and redeem TrueUSD for US dollars, and the intro to TrueUSD.


What is TUSD?


TrueUSD is a price-stable cryptocurrency backed by US Dollars. Each 1 TUSD is redeemable for $1.00 USD.

If you hold TrueUSD tokens, pass a KYC/AML check, and comply with our terms of use, you have a legally enforceable right to redeem those tokens for the money in the TrueUSD escrow accounts. Anyone with a Bittrex account can trade TrueUSD.

TrueUSD is made possible by tokenizing US Dollars through TrustToken’s legal and technical platform. TrustToken is a platform to tokenize real-world currencies (such as USD and Yen) and assets (such as real estate, art, and IP).









Why TrueUSD launched on Bittrex first

  • Bittrex has solid KYC / compliance practices.
    We appreciate and share Bittrex’s commitment to work in compliance with US financial law and be leaders in the evolving landscape of cryptocurrency regulation. We believe that proactively following regulatory guidelines is the best long-term strategy for token issuers and exchanges.
  • Bittrex is frequently used by institutional traders. TrueUSD alpha is designed to meet the needs of high-volume individuals and institutions. TrueUSD is held in a legal structure (escrow accounts) that is familiar to funds and institutional traders. This new trading pair adds to Bittrex’s strong appeal to institutional traders.
  • Bittrex is the largest cryptocurrency exchange (by trading volume) in the United States.




Bittrex Enhanced KYC/AML Verification


Guidance for Traders


Trading pair: BTC/TUSD Right now, there is only a BTC/TUSD pair. We’re working to develop more trading pairs. In the meantime, to convert Tethers or other tokens into TrueUSD, you’ll first need to pass through Bitcoin.

How to exchange TrueUSD for US dollars
See How to purchase and redeem TrueUSD: a guide for traders.
Anyone with a Bittrex account can use the exchange to trade TrueUSD for BTC.

Price
Don’t buy TUSD for more than $1.05 worth of BTC — you may lose money. You will only be able to redeem TrueUSD tokens for an equal number of escrowed US dollars.

There may be high demand over the next few weeks. There are already several groups set up to do market-making on TUSD. During this first week, we’re targeting to keep the price of TrueUSD within 5% of $1.00, and to continually decrease the spread.

Market Making
We appreciate the large demand for a trustworthy USD backed stable coin, and we’re working to quickly scale up to meet that demand. We have received interest from external market-makers and are looking for additional high-volume traders.



Source: https://blog.trusttoken.com/trueusd-the-worlds-first-legally-backed-stable-cryptocurrency-is-now-trading-on-bittrex-6a49b621f058

Tags: TrueUSD, cryptocurrencies, crypto news, cryptocurrency, bitcoin, tusd, btcusd, bitcoin exchange, bittrex exchange


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