Indian exchange Zebpay has listed TrueUSD (TUSD) on its platform. The deposits for TUSD stable coin went live yesterday, August 8th, while trading has started from today, August 9th, at 1 pm. Users can buy, sell and trade TUSD in two pairs – TUSD-INR and TUSD-BTC. Cryptocurrency traders can send and withdraw TUSD from their Zebpay account without any withdrawal fees till 31st August.
TrueUSD is a stable coin (pegged to the US dollar) which is fast growing in popularity (ranked 109 on Coinmarketcap). TUSD is a good alternative to Tether (USDT) which has courted controversy over its legitimacy and auditing practices. TrueUSD stablecoin aims to overcome the problems posed by USDT through a transparent approach. TUSD works with multiple trust companies which already manage billions of dollars, instead of relying on one bank account.
The stablecoin follows a legal framework which allows investors to exchange USD directly with an escrow account without TrusUSD ever gaining access to the funds. An open source smart contract ensures a 1:1 parity between TrueUSD and USD in the accounts. According to its official website, TUSD is 100% collateralized by USD.
Earlier this week, Zebpay exchange had also delisted VeChain (VET) and stopped its deposits. VeChain trading will be disabled on August 13th, while VeChain withdrawals will be stopped from August 20th. Zebpay has not provided any explanation for the delisting of VeChain.
(Image credit: Zebpay blog)