For the first time ever in the crypto history, the moving in and moving out, as well as the redemption of the stablecoin has been made so easy on Binance. Yesterday, TrustToken recently announced on Twitter that it is exciting to partner with Binance. The aim of this partnership is to make the buying and the redeeming of the Stablecoins much safer and easy to use. The integration of the two companies is live on Binance beta.
On this, the co-founder and CEO of TrustToken- Jai An said,
We are excited to be working with Binance to make it significantly easier for users to move in and out of cryptocurrency markets. […] Moving between crypto and fiat markets is still a major pain point for many of our users. We have listened to what the market wants, and will be rolling out many more solutions to easily purchase and redeem TrueUSD partnership with Binance is a major step in this direction.
Moving in and moving out of the TrueUSD:
The partnership caters to the user base for easy moving in and out of the TrueUSD. The users of the platform will be able to secure TrustToken web app. They can also redeem their TrueUSD.
How can Binance users mint or redeem TrueUSD?
All they need to do is to sign up via the TrustToken app to do so.
What is the fee?
The users can purchase the TrueUSD at no cost at all.
TrueUSD’S unique selling point:
- At the moment in the crypto market, TrueUSD is the only stablecoin that allows its user-base to mint TrueUSD tokens via the bank wire transactions.
- It has basically cut-short the tedious process of the first mint the tokens to the private crypto wallet, and the extra efforts to send the stablecoin to any crypto exchange.
- Thirdly, it is the only stablecoin that allows the users to redeem them in a single transaction.
Further, the CEO of Binance- Changpeng Zhao said,
Our goal is to continuously build better and more convenient products for our users. […] We are excited to be working with TrustToken to make purchasing and redeeming stablecoins both easy and secure. I’m looking forward to working with the TrueUSD team to spearhead some of these initiatives.
Last month, TrustToken released a new stablecoin called- TrueCAD. The value of this stablecoin is linked to the Canadian Dollar. The company has been producing successful stablecoins such as TrueUSD, TrueGBP, and TrueAUD. All of these stablecoins are supported with the one is to 1 ratio. There were reports that the users of these stablecoins are allowed to hold four stablecoins on the app.
On the other hand, on one side where TRON’s founder- Justin Sun’s excitement knew no bounds after getting selected for the charity lunch with the world famous investor- Warren Buffet; on the other side, Binance’s CEO opted to pass the opportunity. The charity lunch is hosted by Warren Buffet. TRON’s CEO announced it in an open letter that he will further invite leaders from the crypto landscape to accompany him over the prestigious lunch opportunity in New York City. The Binance’s CEO CZ has surprisingly turned down the charity lunch opportunity.