If you’re feeling hesitant about the cryptocurrency market, it’s understandable. Bitcoin and other digital currencies typically face massive price fluctuations, making them highly unstable. Among cryptocurrencies, stablecoins are different in that they are not designed to be investment vehicles, but rather are secure and stable stores of value.
TrustToken, a platform that allows users to create asset-backed tokens that you can easily buy and sell around the world, has recently launched TrueUSD, a stablecoin that is redeemable 1-for-1 for US dollars and took only 4 months of trading to exceed the $80 million market cap.
With the demand of stablecoin on the rise, TrueUSD gives traders lower transcation fees and the ability trade 24/7, providing greater efficiency and liquidity. It also enables smarter financial contracts that can be enforceable over time, and reach mainstream consumers and businesses who are looking for a secure and backed digital currency.
“Stablecoins are one of the keys to bringing the benefits of crytocurrencies to everyone, by providing price stability and universal access to established national currencies.” said TrueUSD and TrustToken co-founder and CTO Rafael Cosman.
To learn more about tthe history of cryptocurrencies, why the market needs stability, and how fiat-backed stablecoins work, read the rest of this infographic from TrustToken.