Does CredoEx offer Stablecoins?

What are stablecoins? 

A stablecoin is a cryptocurrency with a fixed price. While most cryptocurrency prices are determined by the marketplace, price is discovered by supply and demand, stablecoins are a fixed price equal to the US dollar. 

What is TrueUSD? 

TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counter-party risk, and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.

Why are stablecoins important? 

A digital currency that is widely accessible and price stable would offer a much needed alternative for people seeking stability in a volatile market. 

For price stability of our first stable coin offering we like that each TrueUSD token is backed 1-for-1 for US dollars. Every TrueUSD stablecoin is also redeemable 1-for-1 for US dollars. This allows individuals and institutions to trade cryptocurrencies within and across exchanges while mitigating the price volatility of the cryptocurrency market.

 

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