NEW YORK--(BUSINESS WIRE)--TrueUSD, the world’s most transparent stablecoin that is fully collateralized and independently attested live on-chain, recently announced its partnership with the crypto-friendly Signature Bank (Nasdaq stock symbol: SBNY). TUSD has now been integrated in the SigNet payment network developed by Signature to deliver 7/24 real-time minting and redemption services.
The integration brings a number of extra benefits to TUSD users on top of offering them more convenient on- and off-ramps. Signature trains dedicated account managers to provide on- and off-line assistance to customers, in this way promising TUSD holders smoother stablecoin minting/redemption services in times of market fluctuations.
TUSD was founded in 2018 and has once reached a market cap all time high of over $1.7 billion. Signature Bank is the third bank that has entered into partnership with this stablecoin company. Prior to this cooperation, TrueUSD has partnered with Prime Trust and Silvergate Bank to provide real-time TUSD minting and redemption services with the help of ultra-performing blockchain networks (PrimeX and SEN).
“We are happy to have TrueUSD join the ever-expanding ecosystem of Signature. Our cooperation not only consolidates the current services that we provide for our clients, but also cements Signature's leading position in the sphere of digital assets.” President and CEO of Signature Joseph J. DePaolo said.
"TrueUSD aims to offer credible financial choices to the world. Our collaboration with Signature and integration with Signet create for TUSD, a USD-pegged stablecoin that is attested real-time, another opportunity to harvest exponential growth, and for TUSD users across the globe a secure and real-time settlement option." President of TrueUSD Jennifer Jiang added.
TrueUSD (TUSD) is the first independently-verified digital asset redeemable 1-for-1 in US Dollars. The multichain stablecoin uses various banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.
Each TUSD token is fully collateralized and attested live on-chain, now moving billions in monthly trade volume across over 100 global trading partners. Liquidity is offered on numerous leading exchanges, DeFi protocols, and is supported by major OTC desks worldwide with reach to international customers in over 120 countries. TUSD also supports nearly instant minting and redemption speeds with financial partners including Signet by Signature Bank, the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.