{"id":"trueusd","version":1,"language":"en","title":"TrueUSD","hidden":false,"content":"**TrueUSD** (TUSD) is a [stablecoin](https://iq.wiki/wiki/stablecoin) that is designed to maintain a value of one U.S. dollar per token. It is an [ERC-20](https://iq.wiki/wiki/erc-20) token built on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), and it is issued by the TrustToken platform. [\\[1\\]](#cite-id-etiw72439b6)  \n$$widget0 [YOUTUBE@VID](_TODkXSZGeY)$$  \nThe TrustToken platform claims to be the first to offer a fully collateralized stablecoin, meaning that for every TUSD token issued, there is an equivalent amount of U.S. dollars held in escrow in a third-party trust account. [\\[2\\]](#cite-id-8zx3bdrpj3g)  \n  \n# Overview  \n  \nTUSD's value is linked directly to the US dollar, and each TUSD is fully collateralized with one US dollar held in an escrow account, thereby providing a 1-to-1 backing. The transfer of TUSD can be done at a low cost of $0.01 and can be sent to any person around the world. Additionally, the redemption of TUSD for fiat US dollars is possible after undergoing a KYC/AML verification process. [\\[3\\]](#cite-id-t4r142x0ef)  \n  \nIn addition to TUSD, the platform provides several other [stablecoins](https://iq.wiki/wiki/stablecoin), including TGBP (Tokenized British Pounds), TCAD (Tokenized Canadian Dollars), and TAUD (Tokenized Australian Dollars). To ensure the reserves that collateralize each currency, Truecoin collaborates with third-party accounting firms that offer monthly attestations. Truecoin has also initiated the transition towards a 'live attestation' dashboard, which enables TrueUSD holders to access real-time data about their TrueUSD accounts. The dashboard is made possible through a partnership with Armanino, a leading accounting firm in the United States. [\\[4\\]](#cite-id-05we2or88b6m)  \n  \n## How TUSD Works  \n  \nTrueUSD operates on the Ethereum blockchain through [smart contracts](https://iq.wiki/wiki/smart-contract), enabling the creation and redemption of a tokenized version of the US dollar. Once a user purchases TUSD through the TrustToken platform using US dollars, the smart contract automatically generates and issues the corresponding amount of TUSD, which becomes part of the circulating supply of the token. [\\[7\\]](#cite-id-5oj4f1dx3v)  \n  \nWhen a user redeems TUSD through TrustToken, the platform credits them with an amount in US Dollars equal to the redeemed TUSD amount, while a smart contract burns or permanently removes the redeemed tokens from the circulating supply of TUSD. TrustToken does not charge any fees on TUSD transactions, but generates revenue by charging interest on US Dollars held in their accounts. Traders can buy and sell TUSD at a 1:1 ratio, creating a natural arbitrage opportunity and keeping the token pegged to the dollar. [\\[7\\]](#cite-id-5oj4f1dx3v)  \n  \n# TrueUSD x Chainlink  \n  \nIn 2023, TrueUSD announced the implementation of [Chainlink](https://iq.wiki/wiki/chainlink)'s Proof of Reserves technology to enhance security during the minting process and to reinforce transparency and dependability. The TUSD smart contract uses this 'Proof of Reserve' data feed to verify that the total supply of TUSD does not exceed the total amount of US dollars held in reserve before any new [stablecoin](https://iq.wiki/wiki/stablecoin) is minted. This automated workflow is transparent in the smart contract code and is supported by open and independent data feeds, ensuring both stability and redeemability for TUSD users. [\\[5\\]](#cite-id-jaryyfcceg)  \n$$widget0 [YOUTUBE@VID](9ktGnzAHuoI)$$  \n  \n# Trust Token Platform  \n  \nThe TrustToken Platform is a [dApp](https://iq.wiki/wiki/decentralized-application) built on the [Ethereum](https://iq.wiki/wiki/ethereum) blockchain that facilitates the creation of tokens backed by real-world assets and allows for the global transfer of value. Since its launch in March 2018, TrustToken has expanded its range of tokenized currencies beyond the Tokenized USD (TUSD) to include Tokenized British Pounds (TGBP), Tokenized Canadian Dollars (TCAD), and Tokenized Australian Dollars (TAUD). The company has plans to introduce additional tokenized currencies, such as TEUR and THKD, by the year 2020. [\\[3\\]](#cite-id-t4r142x0ef)[\\[2\\]](#cite-id-8zx3bdrpj3g)[\\[6\\]](#cite-id-0297yua2ps8o)  \n  \n# Payment Use Cases  \n  \n## JustMoney Pay  \n  \nJustMoney, a payment product that supports multiple blockchain networks, has added support for BEP20-TUSD and TRC20-TUSD. This integration allows users to conduct payments with ease on both the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain) and [TRON](https://iq.wiki/wiki/trontrade-1) network. [\\[8\\]](#cite-id-213gw1teaca)  \n  \nJustMoney is dedicated to providing various features such as exchange, cross-chain bridge, and payment. Tobias, the CEO of JustMoney, has commented that JustMoney Pay aims to promote the widespread adoption of cryptocurrencies for daily payments. [\\[8\\]](#cite-id-213gw1teaca)  \n  \n## NowPayments  \n  \nNOWPayments is a crypto payment gateway that enables businesses and merchants to conduct transactions in over 150 cryptocurrencies. The platform has extended its support to enterprises that choose to use TUSD for payment. [\\[8\\]](#cite-id-213gw1teaca)  \n  \n## HYVE  \n  \nTUSD has a partnership with HYVE, a Web 3.0 freelance and workforce marketplace, which now facilitates payments in TUSD via the [ETH](https://iq.wiki/wiki/ethereum) network. HYVE has developed a community-driven ecosystem that promotes cooperation among users in a highly decentralized environment. By integrating direct cryptocurrency payments, HYVE is among the few crypto projects that support cross-chain integration for four distinct networks, including [Ethereum](https://iq.wiki/wiki/ethereum), [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), [Polygon](https://iq.wiki/wiki/polygon), and [Fantom](https://iq.wiki/wiki/fantom). [\\[8\\]](#cite-id-213gw1teaca)  \n  \n## Legal Tender of Dominica  \n  \nAs per the Crypto Ordinance of the Commonwealth of Dominica, TUSD and TRX, among five other TRON-based cryptocurrencies, have been acknowledged as authorized digital currencies of the country for use in all domestic economic activities, including tax payments. The exchange rate between these cryptocurrencies and the Eastern Caribbean dollar (XCD), the fiat currency utilized in Dominica, will be determined by the market. The ordinance came into effect on October 7, 2022. [\\[8\\]](#cite-id-213gw1teaca)  \n  \n## Travala.com  \n  \nTravala.com is a travel agency that was established in 2017. The agency is partnered with over 2,200,000 hotels, 400,000 events, and 600 airlines in 230 countries/regions. As early as 2020, the company added TUSD as a payment option for booking over 2.2 million hotels and homes around the world. [\\[8\\]](#cite-id-213gw1teaca)  \n  \n## DeFi Wallet  \n  \nThe DeFi Wallet, a decentralized wallet developed by [Crypto.com](https://iq.wiki/wiki/cryptocom), allows users to trade more than 300 cryptocurrencies. The wallet now supports AVAX-TUSD, CRC20-TUSD, and ERC20-TUSD. [\\[8\\]](#cite-id-213gw1teaca)  \n  \n# TrueUSD x Wombat Exchange  \n  \nIn December 2022, TUSD announced its launch on Wombat Exchange, a DEX project on BNB Chain. Users have the option to swap TUSD with other stablecoins at a low slippage rate and earn WOM tokens as rewards by staking in the TUSD Liquidity Pool (LP). Wombat Exchange is a multichain stableswap platform that operates natively on the BNB Chain. The platform's focus is on transforming the stableswap experience through its novel algorithm design, which represents the next generation of stableswap 2.0. [\\[9\\]](#cite-id-xm4ll1q17h)  \n  \n# TrueUSD x Velodrome  \n  \nOn September 20, 2022, TrueUSD launched a pool on Velodrome for the TUSD-USDC LP. To increase the pool's liquidity providers' yields, TrueUSD plans to incentivize veVELO holders to vote for the pool by offering TUSD rewards. Velodrome is an automated market maker (AMM) that is built on the [Optimism](https://iq.wiki/wiki/optimism) blockchain. It provides users with an affordable way to exchange digital assets with low slippage. [\\[10\\]](#cite-id-tgadlxe8omn)","summary":"TrueUSD is a fully collateralized ERC-20 token on the Ethereum blockchain pegged to the US Dollar with each token backed by an equivalent amount held in escrow.","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Stablecoins"}],"metadata":[{"id":"references","value":"[{\"id\":\"etiw72439b6\",\"url\":\"https://www.trueusd.com\",\"description\":\"TrueUSD Website\\n\",\"timestamp\":1677733427292},{\"id\":\"8zx3bdrpj3g\",\"url\":\"https://www.trusttoken.com\",\"description\":\"Trust Token Website\",\"timestamp\":1677733442973},{\"id\":\"t4r142x0ef\",\"url\":\"https://tusd.io/pdf/TUSD_WhitePaper.pdf\",\"description\":\"Trust USD Whitepaper\",\"timestamp\":1677733463206},{\"id\":\"05we2or88b6m\",\"url\":\"https://www.coinbase.com/price/trueusd\",\"description\":\"Coinbase\",\"timestamp\":1677733481106},{\"id\":\"jaryyfcceg\",\"url\":\"https://trueusd.medium.com/trueusd-becomes-first-usd-backed-stablecoin-to-secure-minting-with-proof-of-reserves-fe8dbffde44f\",\"description\":\"TrustUSD Medium\",\"timestamp\":1677733495105},{\"id\":\"0297yua2ps8o\",\"url\":\"https://cryptobriefing.com/what-is-trusttoken-introduction-to-trueusd/\",\"description\":\"What is TrustToken\",\"timestamp\":1677733519839},{\"id\":\"5oj4f1dx3v\",\"url\":\"https://portalcripto.com.br/en/what-is-trueusd-coin-tusd-token-stablecoin-fully-regulated/\",\"description\":\"Portalcripto - What is TrueUSD\",\"timestamp\":1677734363017},{\"id\":\"213gw1teaca\",\"url\":\"https://medium.com/truly-crypto-101/payment-use-cases-of-tusd-e2fb9236902a\",\"description\":\"Medium - Payment Use Cases\",\"timestamp\":1678328134034},{\"id\":\"xm4ll1q17h\",\"url\":\"https://trueusd.medium.com/tusd-goes-live-on-bnb-chains-wombat-exchange-657fcc85d02e\",\"description\":\"TrueUSD x Wombat Exchange\",\"timestamp\":1678328176334},{\"id\":\"tgadlxe8omn\",\"url\":\"https://trueusd.medium.com/tusd-lp-pool-goes-live-on-optimism-based-amm-velodrome-and-offers-tusd-bribes-b9f6e50c3b40\",\"description\":\"TrueUSD x Velodrome\",\"timestamp\":1678328196285}]"},{"id":"website","value":"https://www.trueusd.com"},{"id":"twitter_profile","value":"https://twitter.com/tusdio"},{"id":"discord_profile","value":"https://discord.com/invite/tusdio"},{"id":"telegram_profile","value":"https://t.me/TUSDofficial_EN"},{"id":"medium_profile","value":"https://trueusd.medium.com"},{"id":"previous_cid","value":"QmfMhaJBtXtjTxPh72KiD9KhRMAGXqD8kyMevYhZdXAnNE"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0xfaF91FF28393Cf9292A351DbEa5FA6DCF34538D3","profile":{"username":"yena","avatar":""}},"media":[{"name":"_TODkXSZGeY","id":"https://www.youtube.com/watch?v=_TODkXSZGeY","size":"0","type":null,"source":"YOUTUBE"},{"name":"1*qc53ZggkiYRKyFaW5ckmhw@2x.webp","id":"QmSwQeK8v1rwynwgNEu9sJbbV5ScpYn7Zx8UNaiVE7EKk4","size":"0.03","type":"GALLERY","source":"IPFS_IMG"},{"name":"9ktGnzAHuoI","id":"https://www.youtube.com/watch?v=9ktGnzAHuoI","size":"0","type":null,"source":"YOUTUBE"}],"views":55,"events":[{"title":"Date Founded","description":"TrueUSD was launched in March 2018.","type":"CREATED","date":"2018-03","link":"https://www.tusd.io/"}],"ipfs":"QmfMhaJBtXtjTxPh72KiD9KhRMAGXqD8kyMevYhZdXAnNE","transactionHash":"0x137c7b5a57d1b366545a68981835adddee015754ad90b6187921e0f3c5e85dd4","created":"2023-03-02T05:20:04.828Z","updated":"2023-03-27T17:10:09.438Z","images":[{"id":"QmSEm7Ls9hfPjQLFvveztEWcq3MXRiq8HmEAwDYnH17pYz","type":"image/jpeg, image/png"}],"linkedWikis":{"blockchains":["ethereum"],"founders":["rafael-cosman"]}}