TrueUSD
About TrueUSD
TrueUSD is a stablecoin that is pegged 1:1 to the United States Dollar. It is the first digital asset with real-time on-chain confirmations by third-party institutions. TrueUSD ensures full transparency with its real-time independent audits and complete collateral. To provide a more accessible and stable asset for traders and everyday users, TUSD aims to increase liquidity and deliver an unvarying asset.
In the last hour, TrueUSD's price has seen a change of 0.00%, and over the past 24 hours, its price has moved by 0.00%. Over the previous week, TrueUSD's price has moved by +0.03%. The current price of TrueUSD is SAR 3.7520, accompanied by a trading volume of 44.33M in the last day. TrueUSD's price is currently 26.73% below its all-time high of SAR 5.1207, which remains the highest price TrueUSD has achieved since its launch. The circulating supply of TrueUSD stands at 494.5M, translating to a total market capitalization of 1.855B.
Market stats
Frequently asked questions
What is TrueUSD?
TrueUSD, with the ticker symbol (TUSD), is a digital currency developed as an ERC-20 stablecoin pegged to the U.S. dollar, designed to provide a transparent and reliable digital currency for global payments, trading, and decentralized finance (DeFi) applications. It is notable for being the first stablecoin to implement daily audits of its fiat reserves by independent accounting firms, which enhances trust and transparency for users. TrueUSD relies on smart contracts for its issuance and redemption, enabling real-time on-chain verification of reserve coverage, supported by Chainlink’s proof-of-reserves mechanism and audited by Moore Hong Kong.
How does TrueUSD work?
TrueUSD relies on smart contracts on the blockchain, enabling the issuance and redemption of a digital version of the U.S. dollar. When users wish to purchase TUSD tokens, they must first transfer U.S. dollars to a designated bank account. Once the transfer is received, a smart contract automatically creates and sends the equivalent amount of TUSD tokens to the user’s wallet, effectively adding them to the circulating supply of tokens. When a user sells their TUSD tokens, a smart contract immediately removes the redeemed tokens by burning them, thereby permanently removing them from the circulating supply of TUSD. At the same time, the platform adds U.S. dollars to the user’s account.
Is TUSD available on Rain?
We are constantly working to expand our list of available assets, and although we cannot provide a specific date for the listing of TUSD at this time, you can follow the latest updates through our official social media channels such as X.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulatory framework for trading digital assets in the region.
What are the risks and considerations
Before purchasing TUSD, it is important to understand the associated risks:
• Dependency risk: The currency relies heavily on the involvement of banking counterparties in transactions, which reduces its decentralized characteristics and advantages.
• Liquidity risk: Liquidity may affect the currency’s price movement.
• Governance and regulatory risks: The currency’s value may be affected by legislation and regulation.
• Security risks: You must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after researching it thoroughly.
You should not buy TUSD based solely on price predictions. Instead, you should review the whitepaper, the currency’s use cases, the project behind it, and your risk tolerance before making any decision.
How is TUSD backed?
Each TUSD token is backed by equivalent reserves of U.S. dollars held in secure escrow accounts through partner financial institutions.
Which blockchain networks does TrueUSD support?
TUSD operates across several major blockchain networks, including Ethereum, TRON, BNB Chain, Avalanche, Polygon, and Fantom.
How long does the minting and redemption process take?
Requests typically take about one business day to process and complete after the dollars are deposited into the accounts.
What is a TrueUSD wallet?
A TrueUSD wallet is where you can securely store TrueUSD. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a TrueUSD address?
A TrueUSD address is a string of unique characters that is tied to your TrueUSD wallet. The address functions just like a bank account number and it is what you use in order to send TrueUSD from your wallet, or to receive TrueUSD to your wallet.
What are the most popular cryptocurrencies besides TrueUSD?
Besides TrueUSD, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What will the price of TrueUSD be in next 5 years?
Price predictions for TrueUSD over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading TrueUSD taxable?
Trading TrueUSD may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is TrueUSD's ATH?
TrueUSD’s all-time high (ATH) was SAR 5.1207 on 16 May 2018. This represents the highest recorded market price of the asset to date.
When will TrueUSD be available on Rain?
We’re always working to expand our listed assets. While we can not provide a specific listing date for TrueUSD just yet, stay tuned for updates by following us on our official social channels like X.
What is the market cap of TrueUSD?
With a market capitalization of 1.855B, TrueUSD is ranked 88 among other crypto assets.
What is the all-time high of TrueUSD?
The highest valuation of TrueUSD since its launch was at SAR 5.1207, marking its all-time high.
What is the 24-hour trading volume of TrueUSD?
The trading activity of TrueUSD over the last 24 hours was at 44.33M, highlighting its liquidity in the market.
How many TrueUSD are there in circulation?
There are approximately 494.5M units of TrueUSD currently in circulation, affecting its market dynamics.
What is the relative popularity of TrueUSD?
TrueUSD market cap is around 1.855B.
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