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
Bitcoin unstoppable push to $12,000, China piloting digital currency in cities
BTC/USD again failed in the journey to overcome the resistance at $12,000. The bullish leg made it above the resistance at $11,600 but hit the next hurdle at $11,800.
XRP/USD on the verge of a triangle breakout, is $0.32 within reach?
Ripple price has been narrowing within a falling triangle pattern for two weeks now. The retreat followed an impressive price action that has seen XRP rally from July lows at $0.1740.
Ethereum Classic Price Analysis: ETC/USD bulls fail near the $7-level
ETC/USD faced bearish correction following two straight bullish sessions. The price dropped from $6.925 to $6.889. The moving average convergence/divergence (MACD) shows sustained bearish ...
Cardano Market Update: Bulls stay in control as staked ADA count crosses ten billion
With over ten billion ADA being staked and more than 920 active staking pools, Cardano appears to have reached a new milestone. After the recent Shelley upgrade, users have been able to stake their ADA ...
Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough
Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours.