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Tuesday, March 5, 2024

Digital Banks Manage the USD Reserve Backing TrueUSD

TrueUSD (TUSD), the first-ever stablecoin pegged to the U.S. Dollar that is audited in real-time, shares the details of its recent integrations with top-tier crypto-friendly banks.

TrueUSD (TUSD) integrated by five fintech heavyweights

In 2021-2022, TrueUSD (TUSD) has established itself as a reliable and secure asset for digital transactions; as such, its list of integrations has added new partnerships.

Since June 2021, the TrueUSD (TUSD) team has collaborated with Signature Bank, a New York-based full-service commercial bank. Namely, TUSD is added to SigNet, a native payments network launched by Signature Bank. It provides the technical basis for nearly-instant internal and cross-border transfers.

One of the first crypto-friendly banks, Silvergate, has also added TrueUSD to its payment mechanisms. Its Silvergate Exchange Network (SEN) leverages U.S.-pegged stablecoin for its online minting, redemption and settlement services.

U.S.-incorporated Prime Trust banking conglomerate added TrueUSD (TUSD) token to its PrimeX platform, while First Digital Trust, a private trust listing company, uses TUSD in its minting and redemption operations offered to retail clients.

APYs for TrueUSD (TUSD) products are increased on SunSwap and Beefy Finance

Last but not least, NYDFS-regulated digital banking giant BitGo – which is headquartered in Palo Alto, California – started offering custody services for TUSD, added the token to its multi-signature wallets and enabled seamless in-wallet TUSD purchasings. Those who are buying TUSD on BitGo are charged with zero fees.

Besides banking integrations, the TrueUSD team announced that APY rates on some staking products with TUSD accomplished two-digit levels. For instance, on Tron-based DeFi protocol SunSwap, the TUSD-TRX pool offers up to 12% in APY.

Beefy Finance, a decentralized yield optimization protocol on BNB Chain (formerly, Binance Smart Chain), offers up to 11.2% in APY for single-asset TUSD liquidity providers.

TrueUSD (TUSD) stablecoin is permanently audited by high-profile firm Armanino.

As such, its team promotes TUSD as the most transparent digital asset in the USD-pegged stablecoin segment.

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