​TUSD stablecoin launched on BNB Smart Chain

What’s new? On April 12, the developers of the TrueUSD (TUSD) stablecoin shared the news that the asset has been deployed on the BNB Smart Chain (BSC) network as a native token. Individual and institutional investors can now issue and redeem tokens via the TUSD website. According to the project’s team, the move marks a milestone in the deployment of TUSD across multiple networks, paving the way for further integration of the asset into the BSC ecosystem.

Announcement on the Medium platform

What is known about the projects? BNB Chain is a community-driven, decentralized, and censor-resistant blockchain powered by the BNB token, developed by the Binance crypt exchange team. The network consists of the BNB Beacon Chain and BNB Smart Chain (BSC), compatible with the Ethereum Virtual Machine (EVM). It is the largest blockchain for smart contracts in terms of transaction volume and the number of daily active users. At the time of publication, the network has processed 3 billion transactions from 200 million unique addresses. And the blockchain ecosystem has more than 1400 active decentralized applications (DApps) in various categories, including metaverses, blockchain games, non-fungible tokens (NFT), and decentralized finance (DeFi).

TrueUSD is the world’s first stablecoin that provides real-time verification of reserves by collaborating with multiple banks. Users can create and redeem tokens at any time. As a result of its integration with the Chainlink decentralized oracle network, the asset is the first stablecoin to use the Proof-of-Reserves (PoR) model for issuance security.

In recent years, TUSD has implemented the multichain concept and has been deployed in more than 10 public blockchains, including Ethereum and TRON. Crypto exchanges including Binance, Huobi, Poloniex, and OKX support the deposits and withdrawals of different versions of TUSD, making it faster and easier for users to interact with TUSD across ecosystems.

Binance previously launched 13 spot trading pairs with the asset, including TUSD/BTC, TUSD/ETH, TUSD/BNB, and TUSD/ARB, with a trading volume of $1,23 billion in the last 24 hours. TUSD has been supported by many Binance products, including Binance VIP Loan and Binance Launchpad. Binance Futures also supports TUSD as a margin asset.

Earlier it became known about the launch of the USDC stablecoin on the Cosmos network. According to the developers, the integration will increase blockchain liquidity by hundreds of millions of dollars.