TrueUSD, the world’s most transparent stablecoin, and the team behind TUSD have officially announced the launching of the TCNH, a stablecoin pegged to the Offshore Chinese Yuan which was deployed on TRON.
🚀#TCNH IS NOW LIVE！
💪TRON is one of the fastest growing public blockchains.
Contract address: TBqsNXUtqaLptVK8AYvdPPctpqd8oBYWUC
— TrueUSD (@tusdio) December 15, 2022
TCNH is a TRC20 based stablecoin and it known to be the pioneer in crypto when it comes to Offshore RMB (Chinese Yuan).
All the TCNH tokens are pegged to Offshore RMB with a 1:1 ratio and the TrueUSD team assures that the newest stablecoin is backed 100% by reserves.
Asides from being pegged to the Offshore RMB, contracts for it are audited by an undisclosed auditing company and TCNH serves as a sister product of the TUSD.
In addition to the launching of TCNH on TRON by TrueUSD, last week Tether also launched their own Offshore Chinese Yuan (CNH₮), which was also deployed on the TRON blockchain.
What is TrueUSD?
TrueUSD (TUSD) is a USD-pegged cryptocurrency otherwise known as a stablecoin and they are the world’s most transparent stablecoin, fully collateralized, and independently attested live on-chain.
TrueUSD is the first stablecoin created on the TrustToken Platform and all TUSD users are provided with regular attestations of escrowed balances, full collateral, and legal protection against the misappropriation of the underlying USD.
Last April, the TRC20-TUSD was launched on the TRON blockchain and it adopts the fungible-token-friendly TRC20 standard, which is almost the same as ETHTRON and BTCTRON.
Every TUSD token would be a bridge to convert value between fiat money and digital currency.
What is TRON?
TRON is a blockchain-based decentralized platform founded by the former TRON CEO, Justin Sun in 2017 and it aims to create a free, global digital content entertainment system with distributed storage technology that allows easy and cost-effective sharing of digital content.
— TRON DAO (@trondao) December 13, 2022
It has a native cryptocurrency called Tronix or TRX and the company is dedicated to building the infrastructure for a truly decentralized internet they have added blockchain support to different fields such as DeFi, NFT, and GameFi.
TRON blockchain has been the first choice when it comes to the launching of the Offshore RMB (Chinese Yuan) stablecoins and it provides an alternative option for customers who wants to diversify their portfolio asides from the well-known pegged stablecoins such as Tether (USDT) and others.
For more news and updates, see Tron Spark.