Binance issues 1,07 billion TUSD on the TRON network

The issue fee was $2,63

15.06.2023 - 13:30

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What’s new? On June 15, at 11:30 UTC, cryptocurrency exchange Binance issued 1 072 566 000 TrueUSD stablecoins on the TRON network in one transaction. The transaction fee was 37,78 TRX tokens ($2,63). Representatives of the analytics service Whale Alert reported this.

Link to the transaction

What is known about the asset? TrueUSD is the world’s first stablecoin that provides real-time reserve checking by partnering with multiple banks. Users can create and redeem tokens at any time. As a result of integration with Chainlink’s decentralized oracle network, the asset is the first stablecoin to use the Proof-of-Reserves (PoR) model to secure issuance.

The asset ranks 28th on the CoinMarketCap cryptocurrency ranking with a capitalization of $2,01 billion.

Binance previously launched 13 spot trading pairs with the asset, including TUSD/BTC, TUSD/ETH, TUSD/BNB, and TUSD/ARB. The asset was supported by many Binance products, including Binance VIP Loan and Binance Launchpad. Binance Futures also supports TUSD as a margin asset.

Large stablecoin issuances. Tether, the issuer of USDT, has conducted a number of large token issuances over the past two months. On June 12, Tether printed 1 billion coins on the Ethereum network. On May 8, 1 billion tokens were created on the TRON network. Another 1 billion USDT on the ETH network was issued by the company on April 21.

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