True USD (TUSD), launched in March 2018, is a Fiat Collateralized stablecoin and is described as the world’s first digital currency designed to stay pegged to the US Dollar. In other words, it’s fully collateralized, can be transferred, and is redeemable 1:1 for USD at any time. It is intended for use across a range of ecosystems and applications.

The organization behind TUSD, Trust Token, was founded in 2017, and after introducing TUSD it went on to release other stablecoins tied to different currencies. Examples include TrueGBP (TGBP), which is pegged to the GB Pound, and TrueAUD (TAUD), which is pegged to the Australian Dollar.

Today, international trade and remittance can face issues such as high fees and slow transfers. Trust Tokens created TUSD and other tokenized currencies with the main aim of improving this situation. The project focuses on making cross-border payments faster and cheaper, with the objective of helping international trade and remittance become more accessible.

What are True USD’s key features and how does it work?

Importantly, TUSD is fully supported by the US Dollar. TUSD works with major US accounting firms and banks, along with other third-party verification, to audit reserves and support transparency in transactions. This means that at any time, it should be possible to buy and redeem the fiat asset backing it-USD. The redemption approach is built to be as low-cost and straightforward as possible while maintaining blockchain regulatory compliance and transparency worldwide.

Since USD is tokenized, people globally can obtain a stable digital currency that tracks the USD directly, bringing the economic steadiness associated with the US Dollar-making it suitable as a trusted store of value. This can be especially helpful for individuals and companies in regions where opening a bank account may be difficult.

What can True USD be used for?

At present, TUSD supports several practical applications. It can be exchanged for other cryptocurrencies on cryptocurrency exchanges, and it can also be used as a dependable store of value.

Trust Token expects TUSD and other tokenized currencies to enable even broader use cases over time. In particular, it aims to support international trade and remittances by reducing, simplifying, and speeding up transaction workflows.