TrueUSD announced its launch on Avalanche. TrueUSD is a trusted name in the crypto space for being the most-trusted stablecoins supported by USD. Avalanche is the first blockchain-enabled open-source platform dedicated to decentralized finance applications. These two ace players of the crypto market took to their respective Twitter handles to make a public announcement of the launch.
TrueUSD via its Twitter account, stated that the launch of its token, TUSD on Avalanche is set to change the trajectory of the Decentralized Finance (DeFi) system and move towards exponential growth. TrueUSD also hinted that this had. opened a new opportunity for its native token $TUSD to be introduced to other DeFi platforms too.
TrueUSD shared further details on a Medium blog and stated that this development would bring USD liquidity into its ecosystem. The TrueUSD asset will be readily available on the TrueCurrencies application through Avalanche’s platform.
What makes TrueUSD the most trusted stablecoin is the fact that it is not only backed by traditional USD currency but also atteseted by Armanino, a leading accounting and business consultation provider, and by Chainlink, a decentralized oracle network for smart contracts, states the blog. Apart from TrueUSD, there are several digital tokens available through TrustToken. It is one of the most traded assets available through 100+ crypto wallets across 120+ countries. These assets are known to mint billions in revenue every month.
According to the post, this move will help communities available on TrueUSD to now trade in stablecoins without straining the pockets. Providing liquidity is a prominent aspect of the launch, and this will ensure a shorter turnaround time of payment cycles resulting in lower fees. This puts TrueUSD at the forefront of the most popular exchange, making it the first choice in dispute resolution, bear-market trading, and cases that need to be handled in real-time. Avalanche is the most decentralized layer 1 blockchain platform and holds more than $3 billion in staked value.