THELOGICALINDIAN - Binance is set to accessible trading for baddest TrueUSD TUSD trading pairs on Friday May 18th at 400 am UTC The USDpegged stablecoin will alone be tradable adjoin Bitcoin BTC Ethereum ETH and the exchanges own Binance Coin BNB
TUSD is a stablecoin advised to bout the US dollar at a one-to-one ratio, acceptation one TUSD almost equates to one USD, in agreement of valuation.
Unlike Tether (USDT), a sometimes controversial USD-pegged stablecoin, TrueUSD is reportedly abundant added authoritative compliant. Explains Binance:
As such, accepting TrueUSD through methods added than trading on Binance isn’t absolutely as accessible as one ability think. Notes Binance:
However, already TrueUSD is in your wallet — say, by trading for it with BTC — users are able to alteration it to added users, use it as payment, binding their cryptocurrency backing to it in times of volatility, etc. If you’ve absolute a wallet with one of TrueUSD’s assurance aggregation partners, TrueUSD holders may alike redeem the agenda bill for absolute US dollars. Explains Binance:
At the time of this writing, TrueUSD is trading at $1.30 per badge — acceptable due to today’s announcement. Nevertheless, the 30 percent access in amount adjoin the absolute US dollar agency that TrueUSD has briefly bootless to do the one affair it has set out to do.
Binance’s advertisement follows a agnate one from the Goldman Sach-backed fintech startup Circle, which has abundant its affairs to barrage its own cryptocurrency called to the U.S. dollar, afterward an abundantly advantageous advance annular bedeviled by cryptocurrency mining cartel Bitmain.
However, Circle’s USD-pegged stablecoin is aimed added appear institutional investors than accustomed traders, as the company’s barter charge authority $1 for every USD-pegged coin. Explained Circle CEO Jeremy Allaire:
What do you anticipate about USD-pegged stablecoins? Do you anticipate Tether’s canicule as the baron of such bill are numbered? Be abiding to let us apperceive in the comments below!
Images address of Bitcoinist archives, AP, and Shutterstock.
