Cryptocurrency startup TrustToken launched its second stablecoin backed by British Pound.
"Our team set the new standard for stablecoins with #TrueUSD. Now we’re excited to launch #TrueGBP, a big step forward for driving the next wave of use cases for the #cryptocurrency industry”, they wrote in Twitter announcement.
TrueGBP is already available on several over-the-counter (OTC) trading platforms, including Alameda Research, Bluefire Capital, Galois Capital and QCP Capital. The TrustToken team says that the coin will soon become available through cryptocurrency exchanges.
TrueGBP is trading with TGBP. It is backed 1:1 with British Pounds stored on the escrow accounts of TrustToken.
“With TrueUSD, we have built the bridge between the fiat and crypto world, without being tied to any one exchange. Our goal in launching TrueGBP is to fully utilize this bridge to reduce the friction within global financial markets, to seamlessly increase the speed and decrease the cost of transferring value across global borders,” Rafael Cosman, TrustToken Cofounder and Head of Engineering and Product commented.
TrueGBP is based on similar legal and technical infrastructure as TrueUSD, the first product of the company.
Moreover, TrustToken intends to issue several new stablecoins pegged to different fiat currencies within the next months.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Latest Crypto News & Analysis
Editors’ Picks
Ripple on track to hit $2 as on-chain metrics reset
XRP price shows a consolidation in play that could lead to a new yearly high. The recent recovery from the dip into the demand zone suggests the presence of strong buyers.
Chainlink makes new all-time high, targeting $100
-637336005550289133_Small.jpg)
Chainlink price made another new all-time high at $52.70, while all eyes were on Ethereum crossing past $4,000. LINK has regained massive bullish momentum in the past few weeks.
SafeMoon price may retrace 25% as bulls fail to establish dominance
SafeMoon price shows a massive rally that pushed it to the recent local top. However, the inability of the buyers to propel it past this crucial level might lead to a pullback.
Dogecoin eyes consolidation after its recent pullback
Dogecoin price is facing a stiff resistance wall that could result in a minor correction. A confluence of on-chain indicators adds credibility to this potential bearish move.
Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive
Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.