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Circulating Supply of TrueUSD’s TUSD Exceeds $3 Billion

TrueUSD (TUSD) witnesses remarkable growth and adoption across multiple blockchain networks, with integration into platforms, and also support from Binance.

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Key Points

  • TrueUSD (TUSD) experiences significant growth and adoption across multiple blockchain ecosystems.
  • TUSD is present on various networks, with TRON, Ethereum, and BNB Smart Chain hosting the majority of tokens.
  • TUSD integrates into platforms like UQUID and Megaton Finance, expanding its usage in shopping and finance.
  • Binance plays a prominent role in TUSD adoption, supporting contract swaps, mining, and payment options, while Venus and PancakeSwap also support TUSD.

In June 2023, TrueUSD (TUSD) experienced a significant surge in growth and adoption across multiple blockchain ecosystems. With a circulating supply of 3,059,838,623 TUSD and over $3 billion in dollar reserves, this stablecoin is gaining recognition in the crypto markets.

 

TUSD has made its presence felt across various networks, with TRON leading the way with 2,297,017,674 TUSD. Ethereum holds the second spot with 729,591,343 TUSD, and BNB Smart Chain (Native) hosts 30,097,865 TUSD. Several other networks, including Avalanche, BNB Beacon Chain, Fantom, and Polygon, also support a substantial amount of TUSD.

Integration into Platforms and Protocols

TrueUSD’s growing adoption is evident through its integration into different platforms and protocols. The Web3 shopping platform, UQUID, adopted TUSD as a payment option, providing users with a new way to shop. TUSD has also been into Megaton Finance on the TON network, expanding its presence in the financial sector.

Binance, the renowned crypto exchange, has played a significant role in promoting TUSD adoption during June. It initiated a TUSD contract swap on the BNB Smart Chain and launched the 34th phase of new token mining, supporting TUSD mining. Binance’s Auto-Invest platform added TUSD as a payment option and facilitated the swapping of new native TUSD on the BSC network for TUSDOLD, offering users a seamless conversion process.

Venus recognized the growing importance of TUSD and launched the VIP-129 proposal to support the new native TUSD. Following its approval, the market for the token went live. Additionally, Pancake V3 introduced the TUSD Syrup Pool and Farms, providing users with more opportunities to earn rewards.

Increased Reach on Kraken and Binance

TrueUSD’s reach extended to Kraken, where deposits and withdrawals of TUSD on the TRON network were enabled by the end of June. Binance further solidified TUSD’s position by launching a zero maker fee promotion for all existing TUSD spot and margin trading pairs. Additionally, BCH/TUSD and CFX/TUSD trading pairs were added to the platform.

TrueUSD made significant strides in community engagement through various campaigns. Binance C2C and Binance Earn launched time-limited campaigns, offering new users a chance to win up to 175 TUSD. The UquidParty online campaign and PancakeSwap’s TUSDQuiz on Telegram created interactive opportunities for participants to win a share of TUSD prizes.

End Note

Despite TrueUSD’s claim to be the “first USD stablecoin operated by a regulated operator,” there are potential challenges that the company faces. TrueUSD’s technology partner, Prime Trust, encountered serious issues, including rumors of insolvency and a cease and desist order from the Nevada Department of Business and Industry. However, TrueUSD has denied any impact from these situations and assured users that their funds with TUSD remain secure.