India’s Zebpay Crypto Exchange Announces TrueUSD (TUSD) Stablecoin
Zebpay launches TrueUSD (TUSD) with zero withdrawal fees in iOS and Android
Zebpay announces its launch of a new coin TrueUSD (TUSD) which the users can now deposit on the Zebpay wallet easily and the App is now available on both the platform that is iOS and Android. Zebpay is the leading cryptocurrency exchange company that is from India and the launch of the new coin was on 3rdAugust 2018.
This coin comes under a different category and that is a ‘stable coin’. A stable coin means that the coin will hold its stable position, a reserved value. A stable coin is a cryptocurrency that is linked to asset like gold, US dollar etc. A stable coin helps to provide a high-level security and legal protection.
TrueUSD (TUSD) future in the industry
Zebpay is very confident about TrueUSD (TUSD) and has said that this is a valuable asset and will have high price jumps. It also claims that TrueUSD will be replacing the tokens that do not support Crypto to fiat exchange transactions. It will act as an alternative to the traditional currencies.
Key Features of TUSD (TrueUSD)
According to Zebpay, TrueUSD can send and withdraw money from the Zebpay wallet to any other wallet and there will be no network transfer fees included in it.
There was a circular announced by the named: DBR.No.BP.BC.104 /08.13.102/2017-18 by the Reserve Bank of India (RBI) that led Zebpay to pause all the INR deposits and withdrawals on Zebpay exchange. The pause status depends on the banks allow these transactions to happen.
Zebpay Announcement for its Users
Zebpay has announced that the TUSD withdrawals will be available and it will run on the platform from Monday i.e. 6thAugust. The users will be informed accordingly by the message from the Zebpay about the start date of the trading of TUSD.
The advantage that the user will be getting is that they can start their trading in 20 cryptocurrencies and 35 plus trading pairs on Zebpay exchange.
By this launch, Zebpay is expecting to remove the trading limits and try to become the benchmark in the crypto market in India. TUSD tokens are supported by many other firms that the company has partnered with according to Zebpay.
Concerns and Reviews from the Public End
One of the Twitter User Kshirodra raised his concern and tweeted that Zebpay should introduce peer-to-peer and nothing else. His expectation towards the company was it should include p2p but it didn’t.
Another User Ashish Rohilla tweeted that his concern is that the public wants the INR deposit and Withdrawals to work on TUSD.
Another user gave his review about the Zebpay and i.e. that TrueUSD is a good option for trading but not a good option for new investments.