TrueUSD Goes Live On AlphaPoint As It Adds A New CBOE Executive
AlphaPoint announced on Tuesday that it has integrated TrueUSD (TUSD) with several of its partners and clients. The stable coin is now listed live on more than ten cryptocurrency exchange agencies working with AlphaPoint.
AlphaPoint is a New York-based firm that provides Blockchain-based solutions for cryptocurrency exchange agencies. It serves dozens of agencies all over the world. TUSD, on the other hand, is a relatively new stable coin that was launched earlier this year. The coin is designed to trade at par with the U.S. dollar. By integrating the new stable coin, AlphaPoint hopes to give its clients better stability, liquidity, and volatility.
A Sturdy Stable Coin
Stablecoins, unlike cryptocurrencies, are not designed to create their own value. Instead, their value is based on the value of major fiat currencies, usually the U.S. dollar. To this end, the stable coin’s value rises and falls with the dollar. It is essentially a crypto version of a fiat currency.
TrueUSD is one of the most recent stable coins. However, it is reputable than most thanks to its attributes. For starters, the coin has already undergone 5 comprehensive audits from U.S. and Chinese regulatory authorities. It is also built on a secure and transparent platform designed to ensure everyone’s trust and confidence.
Most importantly, TUSD has partnered with several banks and trusts based in the U.S. to help mitigate all sorts of risks. These partners also lend their legal expertise to ensure that users’ funds are legally protected under U.S. law. Combined, all these factors ensure that TUSD is indeed stable and secure.
A Warm Reception
Founders and executives of both companies have come out in support of the recent integration. Igor Telyatnikov, the President and co-founder of AlphaPoint, was confident that the recent move would offer his clients’ customers greater liquidity and velocity in their transactions. He was also confident that TUSD, and other stable coins in general, would help improve efficiency in the global cryptocurrency exchange industry.
Danny An, the CEO of TrustToken, the firm behind TUSD, said that AlphaPoint’s recent move to integrate the stable coin into its cryptocurrency exchange agencies was proof of its credibility and confidence.
AlphaPoint Welcomes CBOE’s Head Of Equity Options To The Team
In addition to integrating TUSD, AlphaPoint also announced that it has appointed Kapil Rathi as the firm’s new Head of Trading Markets for its global operations. Mr. Rathi will be tasked with managing the firm’s cryptocurrency exchange and trading businesses.
Mr. Rathi joins AlphaPoint from CBOE Global Markets where he acted as the Head of Equity Options. He also has vast experience in electronic trading and capital markets. AlphaPoint hopes that Mr. Rathi will bring his experience and expertise to the firm to boost its competitive edge in an increasingly competitive industry.
The recent integration of TUSD by AlphaPoint is a testimony of the stable coin’s credibility and popularity. It will undoubtedly boost the company’s liquidity and volatility and have a positive impact on global cryptocurrency markets. And so will the recent appointment of Mr. Kapil Rathi to the position of Head of Trading Markets.