TrustToken, the company behind TrueUSD (TUSD), a dollar-pegged stablecoin, announced on Tuesday that it has formed a partnership with Armanino, a top-25 independent accounting firm, to develop a new real-time dashboard for TrueUSD fund verification and collateralization.
— TrustToken (@TrustToken) March 5, 2019
According to the announcement, the real-time dashboard is being developed independently by Armanino and will provide third-party confirmation with TrustToken as its exclusive client.
“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, TrustToken’s co-founder and head of engineering and product. “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.”
Noah Buxton, Armanino’s director of risk assurance and advisory, added, “We believe continuous assurance and audit is no longer a far-off future, but rather an imminent reality.”
Perhaps more importantly, TrustToken also announced “1-click” TUSD redemptions for verified users. According to the announcement, “With 1-click redemptions, verified users send TUSD tokens to their personal redemption address from any wallet and U.S. dollars are automatically wired to their bank account.”
TrustToken will also be lowering the minimum TUSD purchase and redemption amount to $1,000.
TUSD now has a market cap of $203.8 million, making it the third largest stablecoin.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.