- TrueUSD (TUSD) launches on Binance DEX on August 8th 2019.
- Binance DEX to launch – TGBP, THKD, TCAD, TAUD – in coming weeks.
Through the year we’ve kept you, our reader, up to date on the new stable coins released by TrustToken, a stable coin issuer backed by top VC firm Andreessen Horowitz (a16z). In early June, the stable coin issuer announced a partnership with Binance decentralized exchange (DEX) to list the TrueUSD (TUSD) token allowing users to deposit and redeem tokens on the DEX platform.
On Wednesday, the issuer announced four more stable coins will join the TUSD pair on Binance DEX including TrueGBP, TrueAUD, TrueCAD, and TrueHKD. The coins, which have exclusively run on the Ethereum’s ERC20 protocol, will now be available on Binance’s mainnet network.
TrustToken’s stable coins launch on Binance DEX
TrueUSD (TUSD) will be the first stable coin among its peers to join the Binance DEX – on August 8th 2019. Traders and users of the stable coin will enjoy very low trading fees on the DEX platform, peer to peer trading, and faster interoperability between chains. TrustToken further confirmed the addition of the other four tokens will take place in the coming weeks.
TrustToken is focusing on adding more stablecoins to its network and an easier access of these stable coins. The CEO and co-founder of TrustToken, Jai An, said,
“Our goal is to provide more users with easy access to stable coins they can trust.”
The launch of new stable coins on the non-custodial Binance DEX wallet increases the liquidity on the platform by enabling new fiat gateways. Furthermore, users will have more trading options on platform moving crypto and fiat seamlessly to their wallets and bank accounts respectively.
New stable coin by TrustToken?
The thriving nature of stable coins through 2018 and the first half of 2019, pushed the TrustToken dev team to look for better alternatives in the market. After launching the TUSD token in early 2018, TrustToken released the TAUD (backed by Australian dollars), the TGBP (backed by the British pound), THKD (backed by the Hong Kong dollar) and TCAD (backed by the Canadian dollar).
TrustToken also recently revealed their plans to launch the TSDG token which will be the first ever stable coin backed by the Singapore Dollar.