The cyclical volatilities of financial markets are also applicable to digital markets. The crypto market recently has shown a downward trajectory, and BTC’s price fell by as much as $9,000 between Dec 3rd — 5th. This naturally points to the question of how investors should manage their portfolios to avoid losses due to market volatilities. The value of stablecoins has been highlighted amidst market fluctuations as stablecoin holders can effectively reduce the risks through managing their stablecoin assets. Below is an overview of the four decentralized crypto product platforms in partnership with TUSD. Feel free to dive into it if you are interested.
Founded in 2015 and headquartered in San Francisco, Abra is a fin-tech company that operates as a platform of crypto asset custody and trading. Its applications grant users access to hundreds of crypto assets, enabling free trading and lending of assets 24/7. Its investors include American Express Ventures, First Round Capital, Foxconn, Arbor Ventures, Lerer Hippeau, RRE Ventures, DCG, etc.
In 2021, Abra launched Abra Borrow, on which users can borrow US dollars using crypto assets as collateral. Unlike traditional loan or credit card applications, it takes only a few minutes to borrow on Abra Borrow, with an APY as low as 3.95% and loan terms from 6 to 24 months. This service is now available in over 50 countries and 35 states in the U.S. For the first time, crypto holders can borrow against BTC and ETH, and quickly withdraw TUSD to a bank account with no interest charges for up to 15% loan-to-value (LTV). TUSD holders can now earn up to a 9% yield on Abra Borrow.
In October 2019, Celsius Network, a platform allowing users to earn yield on crypto, announced support for the four new stablecoins issued by stablecoin provider TrustToken. Celsius Network now provides an APY of up to 10% for ten fiat-pegged stablecoins, including True US Dollar (TUSD), True Great Britain Pound (TGBP), True Australian Dollar (TAUD), True Canadian Dollar (TCAD), True Hong Kong Dollar (THKD), Paxo’s PAX, MakerDAO’s DAI, Coinbase’s USDC, Gemini’s GUSD, and Tether’s USDT.
Celsius offers industry-leading interest rates and allocates 80% of its profits to depositors. On top of depositing stablecoin for interests, users can also earn yield by depositing other types of cryptocurrency or staking their crypto assets, and apply for any loans issued in supported stablecoins at an interest rate as low as 3.46%.
Founded in 2016, the Hong Kong-headquartered Crypto.com has branches in Morocco and other countries. It takes on the mass adoption of crypto assets as its mission and has rolled out a number of services, including CRO Visa card, CRO Pay, its trading platform, mobile wallet, DeFi service, deposit for interest, and lending service, etc., developing an extended product line of crypto assets spanning investment and consumption. Following its Mainnet launch in March 2021, Crypto.com has been focusing its resources on DeFi, NFT, among others, and now boasts a user base of over 10 million.
In April 2019, Crypto.com announced that it would add TrueUSD (TUSD) to its wallet and app. TUSD is the tenth digital asset supported by Crypto.com, in addition to BTC, ETH, LTC, BNB, XRP, ENJ, BAT, and the platform’s native assets MCO and CRO.
Crypto.com boasts a diverse range of products covering crypto wallets and a trading platform. The three-month APY on Crypto.com stands at a whopping 14%. What’s more, TUSD enjoys an APY of up to 20.55% in the DeFi wallet of Crypto.com, dwarfing all other crypto options.
Introduced by the Swiss fintech company Credissimo in April 2018, Nexo is a centralized crypto asset lending hub supervised by financial authorities in Europe. In May 2018, it announced a partnership with BitGO, a leading US trust company, to consolidate its overall performance and security. Nexo also receives quarterly inspections by Deloitte (or DTTL), one of the four largest accounting firms in the United States.
Nexo offers a stablecoin APY of up to 10% (its loyalty program categorizes users based on their loyalty and the 10% APY is for Platinum customers). Customers can earn an additional 2% bonus if they opt for rewards in the form of NEXO (NEXO’s native token). In total, they can earn up to 12% on TUSD.
TrueUSD is the first digital asset with live on-chain attestations by independent third-party institutions and is backed 1:1 with the U.S. dollar. So far, it has been listed on more than 100 trading platforms such as Binance, Huobi, Poloniex, and is live on well-known public chains such as TRON, Avalanche, BSC, and HECO, providing them with a great deal of liquidity to catalyze their growth. It is audited real-time by Armanino, one of the largest US-based accounting firms, to ensure the 1:1 ratio of USD reserves to circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website at any time.
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