[PRESS RELEASE – Dubai, UAE, February 7th, 2024]
CoinMarketCap Analysis launched a report on TrueUSD (TUSD), the USD-pegged stablecoin that gives reside, on-chain attestations of its reserves by impartial, third-party accounting companies.
The report highlighted that TUSD’s market share within the stablecoin sector elevated by over 238%. In 2023, TUSD’s market share elevated from 0.53% to 1.79%, and TUSD’s complete market capitalization rose from $799.31 million to $2.31 billion inside that very same timeframe. This progress emphasizes its increasing place out there.
The report additionally dives right into a key distinguishing issue of TUSD’s transparency, the place TUSD gives reside, on-chain attestations of the reserves backing the stablecoin. The reserve knowledge is compiled by an impartial, U.S.-based accounting agency, The Community Agency LLP. The stablecoin will even obtain every day attestation and experiences In late January 2024 by MooreHK, the Hong-Kong arm of main accounting agency Moore World. TUSD has additionally built-in Chainlink’s Proof of Reserve (PoR) expertise, making TUSD the primary USD-backed stablecoin to include real-time verification of off-chain USD reserves.
Learn the complete report right here: https://coinmarketcap.com/academy/article/everything-you-need-to-know-about-trueusd-tusd
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