TrueUSD

Halal Rating :
Comfortable
Last Price $1.0 Last updated:
Rank 152
1D Change -0.10 %
Market Cap $494.84m
Circulating supply 495,516,083
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Store Of Value
  • Stablecoin
  • Asset-Backed Stablecoin
  • Ethereum Ecosystem
  • Avalanche Ecosystem
  • Arbitrum Ecosystem
  • BNB Chain Ecosystem
  • USD Stablecoin
  • Fiat Stablecoin
  • Tron20 Ecosystem

Purpose and Utility

TrueUSD (TUSD) is a USD-pegged stablecoin that aims to maintain a 1:1 value with the US Dollar. It is operated by TrustToken and launched in 2018. The token's primary purpose is to serve as a stable medium of exchange and store of value in the crypto ecosystem.

Business Model and Operations

TUSD operates on a fully collateralized model where each token is backed by actual US dollars held in regulated third-party trust companies and banks. The platform maintains regular attestations and real-time proof of reserves to ensure transparency. Users can mint new TUSD by depositing USD and redeem TUSD for USD through verified partner institutions.

Real-World Adoption

TUSD has achieved significant adoption as one of the major USD-pegged stablecoins. It is widely used on cryptocurrency exchanges for trading pairs and in DeFi protocols. As of 2023, TUSD maintains a market capitalization exceeding $3 billion with substantial daily trading volume.

Platform Development

The platform maintains regular technical updates focused on security and compliance. TrueUSD has implemented multiple security features including smart contract audits and maintains partnerships with regulated financial institutions for custody of the backing assets.

Token Distribution and Governance

Unlike many cryptocurrencies, TUSD doesn't have a traditional token distribution model since new tokens are only minted when backed by USD deposits. There are no founder allocations or vesting schedules as the token supply is purely driven by market demand and USD deposits.

Crypto Impact

To assign a comfort level investing in TrueUSD from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to TrueUSD.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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