TrueUSD partners Signature Bank to offer minting & redemption services

TrueUSD partners Signature Bank to offer minting & redemption services

The partnership will offer TUSD users with smoother stablecoin minting/redemption services even during market fluctuations

TrueUSD (TUSD), a USD-pegged cryptocurrency, has recently announced a partnership with Signature Bank to become a part of the SigNet payment network, which provides 24/7 real-time minting and redemption services.

This integration will offer TUSD users with multiple benefits and more convenient on- and off-ramps. For instance, TUSD holders can expect smoother stablecoin minting/redemption services during market fluctuations as Signature provides training to dedicated account managers to give on- and off-line help to customers.

Established in 2018, TUSD had a market capitalization of about $1.7 billion. While Signature Bank is the third bank to join the stablecoin company's partnership program. Reportedly, TrueUSD formerly collaborated with Silvergate Bank and Prime Trust to deliver real-time TUSD minting and redemption services using high-performance blockchain networks (PrimeX and SEN).

Signature's President and CEO, Joseph J. DePaolo, expressed his delight at the addition of TrueUSD to their ever-expanding banking ecosystem. He said that the collaboration strengthens present services that they offer to clients and solidifies Signature's leadership position in the field of digital assets.

Jennifer Jiang, President of TrueUSD, said that TUSD aspires to provide users with trustworthy financial options. The collaboration with Signature and incorporation within Signet will provide another platform for TUSD to capture exponential growth, as well as a secure and real-time settlement alternative for TUSD consumers around the world.

About TUSD: 

TrueUSD (TUSD) is the first digital asset independently validated and redeemable in US Dollars. To reduce counterparty risk, provides transparency and prevents fraud, the multichain stable coin employs escrow accounts, various banks, and third-party attestations.

Each TUSD token is completely collateralized and attested live on the blockchain, and it already moves billions of dollars in monthly transaction volume across over 100 worldwide trading partners.

Source Credit - https://www.businesswire.com/news/home/20210705005367/en/TrueUSD-Joins-Hands-with-New-York-based-Signature-Bank-to-Enable-724-Minting-Redemption-Services-via-SigNet-Blockchain-Network