TUSD Announces New Stablecoins For Australia, Canada, Hong Kong And Europe

TUSD Announces New Coins For Australia, Canada, Hong Kong, And Europe

TrustToken shared on Twitter and announced on Medium its “Expansion into four new cryptocurrency stablecoins backed by Australian dollars (TrueAUD), Euros (TrueEUR), Canadian dollars (TrueCAD), and Hong Kong dollars (TrueHKD). Exchanges can immediately start listing TrueAUD, with TrueCAD and TrueEUR set to launch in Q2 and TrueHKD later in 2019.”

The purpose of the releases and the existing coins on the platform, which include TrueUSD and the TrueGBP are to provide traders with new opportunities so that they can trade between global currencies on cryptocurrency exchanges.

The tokens can be purchased through the platforms TrustToken app and there are no purchase or redemption fees. Further, the TrueAUD features similar technical and legal standards as the TrueUSD. In such an instance, the collateralizing funds are held by a third-party escrow account and a third-party accounting firm provides regular attestations of the underlying funds. The platform is also committed to transparency and to fulfill such a commitment, it provides real-time confirmations of funds that back all TrustToken stablecoin products.

TrustToken CEO Jai An explained in a Cryptobriefing article that the firm is looking to expand its services and to promote adoption of its token as an exchange mechanism. He also stated,

“Our goal in launching these four new stablecoins is to carry this trust over into more products that dramatically expand the options traders have for reliable, easy-to-use stablecoins. 2018 was the year that the industry realized the value of trusted stablecoins as a stable store of value and medium of exchange; 2019 will be the year that stablecoins drive industry adoption by connecting the cryptocurrency ecosystem back to the real world.”