Stablecoins: Kraken Announces Trading Support for TrueUSD (TUSD)

Kraken recently revealed that it now supports the deposits and withdrawals of TrueUSD (TUSD) on the Tron Network.

As explained by Kraken, Tron is a blockchain platform “where developers can deploy their own decentralized applications (dApps).”

Tron is powered “by delegated proof-of-stake (DPoS), a system that’s considered highly democratic and inclusive for selecting block producers.”

The company’s vision is “to create a decentralized version of the internet.”

As noted in the update from Kraken, funding is live and trading “starts on June 29.” You can transfer TUSD to your Kraken account “by navigating to Funding, selecting TUSD, and choosing the desired deposit method from the drop-down box (network): Tron.”

Trading via Kraken App and Instant Buy will be “available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).”

This offer is not available in Canada

TUSD is tradeable on Kraken and Kraken Pro with certain parameters.

According to Kraken, here’s what you need to know about the asset:

TrueUSD (TUSD) is a stablecoin “issued by TrustToken whose value is tied to the US dollar.”

According to TrustToken, TUSD is fully collateralized “by fiat reserves verified by third party accounting firms and subject to independent on-chain attestations.”

Holders can trade TUSD “for other cryptocurrencies on platforms that list the token.”

They can also use TUSD “to execute cross-border payments and earn rewards by staking and providing liquidity on various blockchain networks.”

Kraken also clarified that they do intend to make more assets available.

But their policy is “to never reveal any details until shortly before launch – including which assets they are considering.”

All of Kraken’s available tokens can be found via their official sites, and all future tokens will be announced on Kraken’s blog and social media profiles.

Their client engagement specialists “cannot answer any questions about which assets we may be making available in the future.”

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