TrustToken Partners with HBUS to Create Markets with TrueUSD as a Quote Currency
TrueUSD is the Only Fully Collateralized Stablecoin Redeemable 1-for-1 for US Dollars
TrustToken is excited to announce that HBUS has launched trading with markets priced in TrueUSD. HBUS is the exclusive U.S. strategic partner of Huobi, one of the world’s leading cryptocurrency exchanges, with more than $50 billion USD worth of virtual currencies traded.
This listing makes TrueUSD (TUSD) more widely available to U.S.-based cryptocurrency traders through HBUS’s secure and compliant exchange platform. TUSD has achieved a market capitalization of over $80 million in the four months since its first exchange listing on March 5. Its position as a quote currency on HBUS will further that growth.
TrustToken Co-founder and CTO Rafael Cosman said: “TrustToken aims to partner with the most compliant cryptocurrency exchanges. We appreciate the many steps HBUS has taken to provide a secure exchange for US-based traders. This TrueUSD listing is a great opportunity to provide markets priced in a dependable stablecoin to HBUS traders. Professional traders, institutions, and funds are seeking more compliant and predictable tools to trade crypto-assets, and we see HBUS as well-positioned to serve this growing market.”
Kenzi Wang, HBUS’s VP of Operations, said: “HBUS applies a stringent virtual currency selection framework to ensure that only projects meeting the highest technology, liquidity and compliance standards are listed. To our knowledge, TrueUSD is currently the only stablecoin with full U.S. dollar collateralization and regularly scheduled [reporting] by a reputable US-based CPA firm. It has been a pleasure working with the TrustToken team to bring TrueUSD to our customers upon launch.”
As part of TrustToken’s commitment to best practices, and to address counterparty risk, the USD held in escrow as collateral for TrueUSD is managed by an independent trust company. The funds receive verification by Cohen & Company, a top U.S. accounting firm, which publishes regular attestation reports. TrueUSD’s full collateralization means that TUSD is the only stablecoin that is redeemable 1-for-1 for U.S. dollars.
HBUS customers began funding their accounts with TrueUSD starting July 6, and trading in HBUS’s BTC/TUSD market began today. To trade in HBUS’s BTC/TUSD market, please visit HBUS.
