Binance has just announced that Trading of True USD tokens on their exchange at 4am UTC
The True USD token is opening with a bang this week, as Binance announce that it will commence trading of the token today at 4am UTC (5am GMT).
Trading for $TUSD on #Binance will begin in 10 minutes (2018/05/22 04:00 AM UTC).
Reminder: #TUSD is a fully collateralized stablecoin backed by US dollars. The value is designed to be 1 TUSD = 1 USD @TrustToken pic.twitter.com/U9IQlJsDxB
— Binance (@binance) May 22, 2018
The rollout of the TUSD is certain to take some of the wind out of the sales of the Goldman-Sachs backed Cryptocurrency Startup, Circle, which just obtained funding to develop its own US Dollar Token this summer.
The TUSD is a token that is currently backed by the US Dollar, according to the Trust Token Twitter feed. Customers are advised to avoid purchasing the token at anything above the $1.05 range, as the tokens are advertised as having a direct parity with the real USD at a one to one ratio.
TrueUSD is a stablecoin that is redeemable 1-for-1 for USD. Don’t buy TUSD for more than $1.05 worth of other coins — you may lose money. The price of TrueUSD may see a temporary departure from its normal $1.00 band due to initial high demand.https://t.co/pjYH9YuNMy
— TrustToken (@TrustToken) May 22, 2018