TrueUSD to be the first USD stablecoin in DeFi Avalanche ecosystem »CryptoNinjas

It was announced today that TrueUSD (TUSD), a fully supported stablecoin independently certified live and on chain, is launching the first USD stablecoin on the Avalanche blockchain platform in Q1 2021.

By launching on Avalanche, TrueUSD users will be able to send and receive the stablecoin with sub-second terminal, and transaction fees that are just fractions of a percentage. It will also provide the fastest way for traders to obtain fiat-equivalent funds in and out of exchanges, making it suitable for arbitration, high-frequency trading, and other low-latency use cases.

TrueUSD is one of multiple TrueCurrencies built by TrustToken, which includes TGBP, THKD, TCAD, and TAUD. Collectively, TrustToken’s currencies trade on over 100 OTC exchanges and desks, generating billions of dollars in monthly volume across more than 150 countries.

“US Dollar liquidity is vital to thriving DeFi ecosystems, and we are excited to bring one of the most trusted and widely used stablecoins to Avalanche,” said John Wu, President of Ava Labs. “TrueUSD on Avalanche will be an essential part of a new wave of stablecoin applications and products that are only possible with near-term finality.”

TUSD + Avalanche

Avalanche is an open source platform for launching decentralized finance applications and deploying enterprise blockchain in a single, highly scalable, interactive ecosystem. This is the first smart contract platform that secures transactions in less than one second, supports the Ethereum development toolkit as a whole, and enables millions of independent verifiers to participate as full-block producers.

“Bringing TUSD to Avalanche means putting even more builders in our industry’s most transparent medium of exchange. TUSD is the first TrustToken product of many coming to Avalanche. We are thrilled to see what a great Avalanche developer community will create with TrueCurrencies as building blocks. ”Said Rafael Cosman, CEO of TrustToken.

Since launching its mainnet on September 21st, Avalanche has gained over 650 full validators, block production, participated in network consensus, and an additional 2,500 delegates engaged in stickers. Together, they make Avalanche the most decentralized blockchain tier 1 platform, and have accounted for over $ 1.3B in AVAX stacked to protect the network at its peak.