Republic Protocol Partners with TrueUSD
RenEx is integrating the world’s first legally backed stablecoin
Republic Protocol and TrueUSD, the world’s first legally backed stablecoin, are excited to announce our partnership to bring TrueUSD (TUSD) to RenEx.
TrueUSD is our stablecoin of choice and the first to be integrated with RenEx. It is the only live, fully-collateralized, exchange-agnostic, and compliant USD-backed stablecoin that is available for trading on the world’s top exchanges. Each TrueUSD token is backed 1-for-1 with U.S. dollars and is redeemable 1-for-1 for U.S. dollars, making TUSD a reliable on-ramp and off-ramp for traders.
The TrustToken team works with some of the world’s largest OTC desks, market makers, and institutional-grade traders. Pairing this existing network with RenEx will be fruitful for both organizations and further facilitate institutional demand for our products. TrueUSD also allows for redemption of TUSD directly for USD fiat, via the app.truecoin.com portal which will be of benefit to our RenEx user base.
“When we designed TrueUSD, we expected that investors and traders would eventually seek the security of a USD stablecoin that allowed them to sleep at night knowing their assets and their clients’ assets were not only backed by full USD reserves but were transparently auditable by reliable third parties. What we didn’t predict was the velocity at which investors and traders would flock to TrueUSD — this year we have established partnerships with some of the largest OTC desks, market makers, and traders. A recurring demand has been the ability to move large quantities of TUSD off exchanges.
We believe that partnering with Republic Protocol will allow some of these partners to increase the volume of TUSD they are transacting while also driving volume to RenEx. We were also impressed with Republic Protocol’s commitment to compliance, as demonstrated through their recent partnership announcement with Wyre.”
Tory Reiss, TrustToken Co-founder
We couldn’t be more excited to formally announce our partnership, as this further underpins our goal of bringing mature financial instruments to the decentralized ecosystem.
— Taiyang Zhang, CEO, Republic Protocol
About Ren
Ren is a private and interoperable liquidity layer for decentralized finance. Freely move value between blockchains and transfer tokens in zero-knowledge while maintaining complete privacy.
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