TrueUSD Launches Natively on Avalanche, Bringing US Dollar Liquidity to its DeFi Ecosystem
TrueUSD, one of the most transparent stablecoins on the market, launches on Avalanche as first of several TrustToken products coming to Avalanche
TrueUSD (TUSD) has natively launched on Avalanche, bringing U.S. Dollar liquidity into its ecosystem. TUSD is just the first of many TrustToken products that the project plans to bring to Avalanche, and will play a vital role in DeFi applications on the platform.
Users can now access TUSD on Avalanche directly through TrustToken’s TrueCurrencies App. It will also soon be available through several DeFi applications launching on Avalanche, including decentralized exchange Pangolin.
TrueUSD is one of the most transparent stablecoins on the market, backed 1:1 to the US dollar with live attestations by Armanino and on-chain Proof of Reserves with Chainlink. It is one of multiple TrueCurrencies built by TrustToken, which include TGBP, THKD, TCAD, and TAUD. Collectively, TrustToken currencies trade on over 100 exchanges and OTC desks, generating billions of dollars in monthly volume across more than 120 countries.
By launching on Avalanche, TrueUSD users can now send and receive the stablecoin with sub-second finality and low transaction fees. For the first time, stablecoins will move like cash on a decentralized network, rather than waiting extended periods of time for block confirmations or paying exorbitant fees.
TrueUSD will also be the fastest way to get fiat-equivalent currencies in and out of exchanges, rendering it suitable for arbitrage, high-frequency trading, and other low-latency use cases.
Since launching its mainnet on September 21, Avalanche has gained over 800 full, block-producing validators participating in network consensus, and an additional 4,100 delegators participating in staking. Collectively, they make Avalanche the most decentralized layer 1 blockchain platform, and the third-largest in staked value at over $3B.