Since its launch in 2018, TUSD has been TrustToken’s flagship product. As the first fully-collateralized stablecoin TUSD has grown in both adoption and product innovation.
Adding live independent auditor attestations provided by Armanino in 2019 and on-chain Proof of Reserves with Chainlink in 2020, TUSD has become the most transparent stablecoin on the market. For these reasons, it’s trusted by over 100 exchanges and OTC partners, users across 120 countries, and moves billions of dollars around the world each month.
At the same time, building and growing TUSD has been an effort by a talented but ultimately small team with limited resources. To truly bring the reliability, transparency, and potential of TUSD to the world, TrustToken has long believed a partner able to provide significant resources and a vast global network would be necessary.
Today, we’re proud to announce TUSD will enter the next stage of its growth. Ownership of TUSD will be moving over to an Asia-based consortium that will be working with TRON to develop TUSD on Ethereum, TRON, and other blockchain networks.
Our Scale is Changing — TUSD’s Promise Is Not
Through this partnership, we believe the TUSD product will have the financial and operational resources to thrive independent of TrustToken Inc, as well as strong reach into the Asian market where the potential for TUSD remains high and untapped.
While TUSD’s capabilities are changing, the product you know and trust is not: the TrustToken team will continue to manage the operations, compliance, and banking relations of the TUSD product — now with added customer success, marketing budget, engineering resources, and liquidity support.
The TUSD asset, too, will remain at the forefront of trust and transparency, maintaining our commitment to live, independent attestations and on-chain reporting to ensure that each TUSD continues to be backed 1:1 with dollars held in escrow under this new arrangement.
While no changes will be made to the TUSD product, users can expect improvements in access, starting with expanded support for new blockchains. TUSD will continue to live on the Ethereum blockchain and support the Binance blockchain, and will soon be coming to TRON and additional blockchains natively.
“Since our founding, TrustToken has been committed to bringing financial opportunity to all — and that’s what makes this partnership exciting for us. We’re glad to be taking this step to give TUSD the opportunity to become the world’s most traded and trusted stablecoin. We will continue supporting TrueUSD’s growth and success, while putting more of our focus on TrueFi, which leverages and enhances the TrueUSD ecosystem.” says Rafael Cosman, CEO of TrustToken