TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of Stablecoin Minting – Bitcoin News
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The TrustToken platform has announced that it is leveraging Chainlink’s Proof of Reserve oracle network to provide real-time verification of its stablecoin minting and burning activities. The integration of the oracle network will enable TrustToken to provide its users with a more secure and transparent experience when using its TrueUSD (TUSD) stablecoin.
TrueUSD is a fiat-backed stablecoin that is pegged to the US dollar. It is designed to provide users with a secure and reliable way to store, send, and receive digital assets without the volatility of crypto assets. TrustToken recently announced that it is leveraging Chainlink’s Proof of Reserve oracle network to provide real-time verification of its minting and burning activities.
The integration of the oracle network will enable TrustToken to provide its users with a more secure and transparent experience when using its TrueUSD stablecoin. The oracle network will allow TrustToken to verify in real-time that the number of TUSD tokens in circulation is backed by the equivalent amount of US dollars held in reserve. This will help to ensure that the stablecoin remains stable and that its users are not exposed to any unnecessary risks.
The integration of Chainlink’s oracle network is just the latest step in TrustToken’s commitment to providing its users with a secure and transparent experience. The company has already implemented a number of measures to ensure that its users are protected, such as multi-signature wallets, a secure escrow system, and a robust compliance framework.
The integration of Chainlink’s oracle network is a significant step forward for TrustToken and its users. By leveraging the oracle network, TrustToken is able to provide its users with a more secure and transparent experience when using its TrueUSD stablecoin. This is a major step forward for the company and its users, and it is likely to be welcomed by the crypto community.
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