If you have been active in the cryptocurrency domain for a long time, then you must be aware of the risk of price volatility which these digital coins carry with them. A major section of the society has failed to accept cryptocurrencies as the sole payment settlement system owing to the price fluctuations which dominate the arena.
To solve this issue, stablecoins were introduced in the marketspace to fetch more and more participation from the people who earlier restrained themselves, citing price fluctuations issues. Stablecoin is a digital currency that is backed by or is interchangeable with the value of trusted and secured assets like gold, exchange-traded commodities, or fiat money. Tether, Basis, Gemini Dollar, Paxos Standard, etc. are some well-known stablecoins.
In the world of stablecoins, TrustToken is a name that has earned a special status for itself. This excellent platform helps in the creation of asset-backed tokens that can be traded in the global economy with utmost security and transparency. TrustToken has designed a blockchain network that facilitates the transition of real-world assets into online asset tokens. With the tokenization of real-world assets, the users enjoy their trading on global liquid exchanges, which surges up the liquidity levels. The users get a fair chance to invest their tokenized assets in different options available around the world.
TrustToken offers an array of stablecoin products for its wide customer base hailing from different parts of the world. Given below is the list of the stablecoins offered by TrustToken:
- TrueUSD- It was the first regulated stablecoin launched by the TrustToken platform. The coin was fully pegged by the US Dollar and ensured the highest standards of security and returns. One can redeem 1 TrueUSD for $1, which makes it a profitable investment. The coin is tradable on more than 70 exchanges spread across 5 continents. The trading of TrueUSD can be carried upon at the convenience of the investor for a meager cost.
- TrueGBP- This popular stablecoin offering of TrustToken is pegged by the Pound Sterling. It can be purchased and redeemed directly from an ERC20 wallet. One TrueGBP can be easily liquidated for 1 GBP.
- TrueAUD- The stablecoin is backed by the Australian Dollar. An investor can redeem 1 TrueAUD for 1 AUD.
- TrueCAD- It is backed by the Canadian dollar.
- TrueHKD- The stablecoin product is pegged by the stability of the Hong Kong dollar.
The year 2019 had been quite successful for the TrustToken community as it garnered support from multiple leading platforms. In October, Celsius Network broadcasted that it has added support for four TrustToken stablecoin projects. The renowned digital currency interest income platform added TGBP, TAUD, THKD, TUSD to its network.
Recently, in December, TrueUSD team announced that the leading stablecoin would provide a live attestation dashboard of leading accounting and consulting firms, Armanino, to keep track of the reserve assets supporting the stablecoin.
As the cryptocurrency industry begins to prosper, it is likely to open more doors for the stablecoin sector. Many researchers believe that stablecoins will gain popularity in 2020 because of the high-grade security these digital coins offer. TrustToken has promised to bring about a revolution in the stablecoin arena with the launch of several other projects in the new year.