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The crypto world is such a diverse one, spreading far and wide to ensure convenience, transparency, and security at all levels and across many sectors. However, the crypto space suffers some drawbacks, which leave room for skepticism among a group of skeptics. One such skepticism is the question of its stability. With price volatility being part of the hallmark of the crypto world, its stability has been a long-standing question.
Although so much efforts have been inputted in the past years, there is still room for doubt. One way pioneers combated the stability issue is by creating a group of crypto coins dubbed stablecoins. Unlike the conventional cryptocurrency, these virtual coins are backed by fiat currencies, usually in the ratio 1:1. This goes a long way to ensure stability irrespective of the highs and lows in the crypto sphere.
As expected, the stablecoin market was soon flooded by hundreds of digital coins. Notwithstanding, TrueUSD is one of the few which stands high above all others. TrueUSD is a stablecoin created by TrustToken. It is backed by US dollars in a ratio of 1:1. Since its launch, TrueUSD has climbed the ladder of the stablecoin market.
As one of the leading members of the crypto world, TrustToken has decided to create a one-stop shop for all crypto lovers. This is in line with their goal of creating an efficient and all-inclusive global financial system.
Having paraded TrueUSD as their flagship stablecoin for some time now, the firm is ready to expand its reach to other stablecoins. Just a few weeks after the release of TrueGBP (a British pound-backed stablecoin) TrustToken took to their blog to announce the inclusion of four other stablecoins – TrueAUD, TrueEUR, TrueCAD, and TrueHKD. Like TrueUSD, each of these stablecoins is backed by a fiat currency in a ratio 1:1. They are backed by the Australian dollars, Euros, Canadian dollars, and Hong Kong dollars respectively.
The firm announced that TrueAUD is set for listing. Exchanges, wallets, apps or just about any user can now list TrueAUD along with TrueGBP and TrueUSD. TrueCAD and TrueEUR are scheduled for launch in the second quarter of 2019. while TrueHKD will come later in the year.
This is indeed a magnificent step up in the crypto world. Now, crypto users can enjoy a plethora of stablecoin options. Exchanges are not left out of the fun too. By working with TrustToken, they can easily integrate a trusted basket of stablecoins and provide their customers with multiple trading options. Of course, this will give participating exchanges an edge over others.