TrueUSD, the World’s Only Stable Cryptocurrency Redeemable for USD, is Now Tradeable with Ether on Bittrex
Ether / TrueUSD (ETH/TUSD) is now tradeable on Bittrex. A big thanks to the Bittrex team for their enthusiasm and efforts to launch this new market.
TrueUSD is an increasingly common alternative for traders and funds who want a USD-backed stablecoin, but who don’t trust Tether. TrueUSD is the only stablecoin to offer token-holders full USD collateral, regular attestations (here are the first three: 1, 2, 3), and legal protections to redeem TrueUSD for USD.
TrueUSD allows individuals and institutions to manage cryptocurrencies while mitigating the extreme price volatility of the market. TrueUSD is created by tokenizing US Dollars on the TrustToken Platform.
What does the ETH/TUSD market mean for cryptocurrency traders?
- Faster transfers: The ETH/TUSD market enables traders, funds, and trading bots to quickly trade ETH with a price-stable cryptocurrency, without transferring ETH to other exchanges.
- Cheaper than exchanging with fiat: The fees to convert ETH to fiat USD are typically large: 100 bps or more. With the ETH/TUSD trading pair, traders only face the standard Bittrex taker fee of 25 bps.
→ Trade the ETH/TUSD currency pair on Bittrex.
→ Learn more about TrueUSD: see the third 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 stablecoin that you can redeem 1-for-1 for US dollars.
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 create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
Guidance for Traders
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.
Right now, there are only ETH/TUSD and BTC/TUSD trading pairs. We’re working to develop more trading pairs.
See more
- See more technical and legal details on the TrueUSD FAQ.
- Subscribe to the TrueUSD newsletter
- Follow TrustToken on Twitter
- Join TrustToken on Telegram
Team
TrustToken was founded by a team from Stanford, UC Berkeley, Palantir, and Google, and is backed by Stanford-StartX, Founders Fund Angel, FJ Labs, and BlockTower Capital. The company has developed a legal framework for collateralized cryptocurrencies in collaboration with Cooley, WilmerHale, and White & Case, and has a growing network of fiduciary, compliance, and banking partners. Learn more about TrustToken and its TrueUSD product at www.trusttoken.com.
TrueUSD is the first major tokenization project built on the TrustToken platform. If you’re excited about TrueUSD and believe that you or someone you know could make outsized contributions to the key areas of responsibility in our growing company, please reach out about joining our team.
Contact
- General: hello@trusttoken.com
- Media: media@trusttoken.com
- Legal inquiries: legal@trusttoken.com
- Advisors, exchanges, traders: partner@trusttoken.com
