Here at Blockchain Board of Derivatives (BBOD) we will utilise TrueUSD developed by Trust Token as the stablecoin on our trading platform, therefore traders will be able to trade many cryptocurrency pairs vs. TUSD.
This is why we were very excited to be able to interview Trust Token’s Business Developer, Ryan Rodenbaugh along with our own Business Developer here at BBOD, Luca Williams.
This interview enabled both Ryan and Luca to answer some burning questions from the BBOD community so this will hopefully provide our traders with a good understanding of TrueUSD, before trading on our platform the world’s first high-speed, non-custodial derivatives cryptocurrency exchange.
So, to start the interview Ryan gave us a quick overview of who Trust Token are and what the TrueUSD coin is because some traders who will trade on our platform might not know too much about their stablecoin, even though it is one of the very well-known ones!
Trust Token launched in January 2018 and Ryan discussed how Trust Token looked to make a shift in the industry by the tokenization of real-world assets. TUSD is Trust Token’s first and flagship product which they launched in March 2018.
“At the time of recording TrueUSD has grown to a market cap of roughly 250 million.”
Luca then explained the benefits of the TrueUSD stablecoin and why we decided to select it for our trading platform.
“As TrueUSD is pegged to the US Dollar, it means that if your funds are held in a stablecoin and the crypto market was to crash then it means the value of your funds will remain constant.”
“TrueUSD is always backed 100% 1:1 by the US Dollar in professional trust firm’s bank accounts. Monthly assestations are performed along with regular audits to prove that the bank account holdings equal the number of TrueUSD in circulation. Other stable coins such as Tether does not provide regular attestations or audits, so it is unclear if Tether is fully backed by USD. TrueUSD will allow peace of mind for our traders.”
Now for the most exciting part! Why TrustToken is excited for futures trading at BBOD, where TrueUSD will be utilised.
‘We love to see TUSD being used for all sorts of different use cases! We’re excited to see crypto really grow and mature into a lot of these trading use cases and trading contracts that mimic what already happens in traditional markets.’
“The fact that at BBOD you have chosen to exclusively use TUSD is great for us and is one of the reasons we are really excited to work with you guys!”
We are also very happy to be working in collaboration with TrustToken utilising TUSD on our platform, where you will be able to trade Bitcoin and Altcoins vs. TUSD with up to 50x leverage.
Ryan and Luca then answer some questions from the BBOD Community regarding debit/credit card purchases of TUSD, whether BBOD will only accept TUSD for the main deposit and whether traders will have a separate wallet for margin and spot trading at the exchange but you will have to watch the video to find out the answers to these questions!
Finally, we talk with Ryan about future plans at TrustToken such as discussing listing the new coins TrueGBP, TrueAUD, TrueCAD and TrueHKD on major cryptocurrency exchanges and whether this is going well. TUSD is now listed on over 100 spot exchanges. Ryan mentions for the new coins, that at the time of recording within a couple of weeks they will have some new big exchange listings.
Ryan lastly talks about other future developments in the pipeline such as they are looking at finding more and more ways to bring additional fiat dollars into the crypto industry. To hear more on the future plans at TrustToken, please check out the video.
Thank you to Ryan for taking part in this interview, we really appreciate your time and also to our Business Developer Luca for joining us.