This week, TrueUSD, a stable coin, marked the year since its launch. To mark this special day, the stable coin took two important steps to help the user get the most out of the token.
One of the steps was to build a partnership with Armanino, a leading accounting firm in the United States. Thanks to this partnership, TrueUSD will allow its users to learn in real time about the status of TrueUSD, including its bank deposits and total shipments. Before partnership, TrueUSD users had to wait for scheduled reports.
Armanino’s director of risk assessment, Noah Buxton, noted that continuous audit operations "are no longer a distant future, but rather an inevitable reality." According to the partnership, Armanino will have access to the TrueUSD blockchain interface plus bank accounts. This will allow TrueUSD users to view the collateral assets owned by TrustToken.
The second step was to allow TrueUSD users to exchange their tokens for Fiat. However, this feature will be available only to authenticated users. Using this feature requires a redemption address. The address is configured so that any TrueUSD tokens sent to it will be converted to paper and transferred to the user's bank account.
For example, a user on Bithumb or any other cryptocurrency exchange accumulates profits from all traded cryptographic tools. But since the exchange does not support the withdrawal of fiat payments, a longer way is used to convert digital wealth into fiat.
“If you are a confirmed TrueUSD user ... you simply transfer TUSD to your address for repayment, and the cash will be credited to your account as soon as banks allow it. This feature is currently not available for other stable coins. ”
To make it available to everyone, the minimum amount that a user can buy or buy has been reduced from $ 1,000 to $ 1,000.
