Published
5 years ago on
March 05, 2019
TrustToken introduced the next generation of legal and technical standards for stablecoins, including 1-click redemptions, $1k minimum for purchases/redemptions, and a real-time dashboard to verify TrueUSD funds.
San Francisco, CA - March 5th, 2019, TrustToken announced new standards for fiat-backed stablecoins as it celebrates the one year anniversary of TrueUSD, a regulated stablecoin fully redeemable for USD. Through a new partnership with Armanino, a top 25 independent accounting firm, TrueUSD traders will be able to view a real-time dashboard of TrueUSD funds, advancing transparency from months to minutes. The real-time dashboard has been built independently by Armanino and will provide third-party confirmation, with TrustToken as an exclusive client.
“With their proven track record and pioneering mindset, we see TrustToken as the perfect client partnership to drive innovation in the crypto and accounting industries,” said Noah Buxton, Director of Risk Assurance & Advisory at Armanino. “We believe continuous assurance and audit is no longer a far-off future, but rather an imminent reality.”
The dashboard is set to be open to the public by early April, allowing anyone to monitor TrueUSD token balances and collateralized funds on the Armanino website. Armanino connects directly with to third-party escrow accounts holding the US dollars that collateralize TrueUSD tokens, and runs their own ETH nodes to ensure accurate TUSD token supply.
“We are thrilled to be working with Armanino to offer traders the highest degree of trust in our products. This sets a new standard not only for stablecoins, but for all tokenized assets in the future,” said Rafael Cosman, Co-founder and Head of Engineering and Product at TrustToken. “Over the past year, we have learned the value of trust and transparency for the success of TrueUSD. With real-time confirmation of funds provided by one of the world’s leading accounting firms, traders will know at all times that their tokens are backed by real-world value.”
In addition to announcing real-time confirmation of funds, TrustToken has lowered the minimum TrueUSD purchase and redemption amount to $1,000 and launched a unique 1-click redemption process. With 1-click redemptions, verified users send TUSD tokens to their personal redemption address from any wallet and US dollars are automatically wired to their bank account. This process makes it significantly easier to redeem TrueUSD directly from exchanges, which is not possible with any other stablecoin on the market. 1-click redemptions can be fully automated for trading desks to remove manual entry. With these updates, traders can have even more trust in the ability to quickly and automatically redeem their TrueUSD for US dollars.
About TrustToken
TrustToken is creating a more efficient and inclusive global financial system by digitizing assets that can be seamlessly and securely exchanged across liquid markets worldwide. TrueUSD [TUSD], a stablecoin redeemable 1-for-1 for U.S. dollars and the industry’s pioneer in using third-party trust companies and independent accounting firms, is the first product on TrustToken’s platform. TUSD offers the transparency, liquidity and redeemability required in the crypto- economy, and it has the most traded of all fully-collateralized and independently validated stablecoins. TUSD is listed on more crypto-exchanges – including Binance, OKEx, DigiFinex, Bittrex and Huobi – than any other product in its asset class. For more information, visit www.trusttoken.com.
About Armanino:
Armanino is one of the top 25 largest independent accounting and business consulting firms in the United States. Armanino has been in business since 1953, and is a nationwide leader in serving privately-held companies, as well as, non-profit organizations and public entities. We have provided audit, tax, and consulting services to crypto-native companies and exchanges since 2013. We provide five main areas of service – Audit, Risk Assurance & Advisory, Tax, Consulting and Business management. We also have a dedicated team that services our blockchain and crypto clients.
Media contact:
David Steinrueck
Marketing Communications Manager, TrustToken
Email: [email protected]
Cell: 209-592-7043
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