Interview with TUSD Market BD Director Annabel: The market value of TUSD has exceeded 1.2 billion US dollars, and compliant stablecoins are gradually rising

With the prosperity of the encrypted economy, the status of stablecoins has been continuously improved, and now it has a total market value of more than 60 billion US dollars. The market value of many stablecoins has grown significantly in the past few months. According to data from the official website, the market value of the stablecoin TUSD has grown rapidly within a week, and has now exceeded 1.2 billion US dollars. Jinse Finance recently exclusively interviewed TUSD Market & BD Director Annabel, in-depth interpretation of the mystery of the rapid growth of TUSD, as well as the future development trend of the stablecoin market.

The following is the transcript of the interview:

Jinse Finance: First of all, what is TUSD and how does it work?

Annabel: TrueUSD (TUSD) is one of the most trusted stablecoins in the world, and it is also the first digital asset that has been verified by an independent organization, accepts real-time independent verification on the chain, and can be exchanged for US dollars 1:1. By cooperating with a number of internationally renowned banks, adhering to the custody account mechanism and third-party fund verification, reducing transaction risks, ensuring transaction transparency, and providing token holders with legal and reliable digital dollar assets, the current global circulation has exceeded 1.2 billion .

Data: 10,000 ETHs were transferred out of the relevant address of the crypto market maker Jump Trading today: On October 25th, the address marked as "Jump Trading: 0x071 Robinhood Custody" by Nansen transferred 10,000 ETHs (approx. 13.38 million US dollars), the current address balance is 2.0286 million ETH (approximately 2.713 billion US dollars), and 10,000 ETH were transferred from this address 10 days and 27 days ago. [2022/10/25 16:37:50]

Jinse Finance: USDT is currently the USD stablecoin with the largest circulation and circulation. Could you please introduce the difference between TUSD and USDT?

Annabel: First of all, transparency is the biggest advantage of TUSD. ①The TUSD team has introduced a third-party custody method. The team does not directly manage the mortgaged assets, and the TUSD team cannot obtain any reserves; ②At the same time, Armanino, the top accounting company in the United States, also These reserves are audited in real time. The Trust Explorer browser developed by Armanino has been reading the balance of custody reserves and the supply of tokens on the TUSD chain, and displaying both in real time to ensure sufficient collateral; ③In addition, TUSD is the only In a decentralized way, the on-chain supply and off-chain reserve data are uploaded to the stable currency of the blockchain in real time.

The number of euro-based stablecoins has increased by 1683% since 2020, but has dropped by 14.17% since January this year: Golden Financial News, the issuance of euro-anchored stablecoins has increased from a value of 31.9 million US dollars on January 3, 2020 to Today's $569 million, an increase of 1683%. Since November 2021, the number of euro stablecoins has increased by 85.34%, but from January 2022 to the present, the number of euro stablecoins has decreased by 14.17% in the past seven months. [2022/8/2 2:52:17]

Second, TUSD has efficient minting and redemption channels. With the help of Silvergate Exchange Network (SEN) and PrimeTrust's PrimeX technology, TUSD can provide users with near real-time minting and redemption services, and users can also enjoy direct bank redemption services through a convenient and easy-to-remember five-digit redemption address. In the United States, TUSD can be transferred to the account within 2 minutes at the fastest, and the exchange can be completed within one day at the longest; within 3 days in Hong Kong, China. In addition, mainland users can also obtain TUSD through the fiat currency deposit channels of trading platforms such as BiKi and Matcha MXC.

The Cosmos ecological lending agreement Coslend has launched the Beta version, supporting WETH, USDC and other assets: On May 23, the Cosmos ecological lending agreement Coslend has launched the Beta version on the Evmos main network. This version currently supports WETH, USDC, USDT, and FRAX Asset lending services. [2022/5/23 3:35:42]

Compliance is another major advantage of TUSD. TUSD holds an MSB license and is a stable currency operated by a US compliant license, which can effectively protect the security of user funds.

Jinse Finance: In your opinion, will TUSD, a regulatory-compliant stablecoin, surpass USDT in the future?

Annabel: In 2020, the average monthly market value of USDT has increased by 75.39%, and the total market value has exceeded 52 billion US dollars so far. Such a huge number actually represents a large market and crowd behind it. For a long time, whether it is ordinary investors or professional traders, everyone has basically relied on USDT to deposit and withdraw funds, so it will involve changing user habits and require the gradual penetration of other stablecoins. The penetration process includes building a good infrastructure, such as connecting a large number of OTC acceptance merchants, and building convenient deposit and withdrawal channels for users; or increasing usage scenarios, adding basic transaction pairs, and replacing USDT as margin for derivatives such as contract options; Other public chain versions provide users with efficient, convenient and efficient means of transferring money in various wallets or exchanges. Although these measures may still be perfected, it is undeniable that the development trend of compliant stablecoins is very positive and healthy. This can be seen from the market share of various stablecoins. In 2020, USDT accounted for the market value of major US dollar stablecoins. The proportion of USDT has dropped from 74.80% to 68.22%. This number is still declining this year, so the market share lost by USDT is actually "divided" by other US dollar stablecoins, and compliant stablecoins are gradually rising.

Data: In 2021, the transaction volume of Beijing’s digital renminbi pilot project will reach 9.6 billion yuan: According to news on January 13, the Business Management Department of the People’s Bank of China concluded at the 2022 work conference held on January 10 that Beijing will launch three large-scale digital renminbi sessions in 2021 Pilot activities, 403,000 landing scenarios, and a transaction amount of 9.6 billion yuan. (Beijing Youth Daily) [2022/1/13 8:45:57]

Jinse Finance: In your opinion, what role does stablecoin play in the crypto market? What key factors need to be overcome for the further development of the stablecoin market?

Annabel: I personally think that stablecoins are a magical existence in the circle. The reason why I say this is because the digital currency trading market is a 24-hour continuous market. If it is said that money on Wall Street "never sleeps", then the currency circle is simply Without blinking an eye, most assets are highly volatile. Although stablecoins are also tokens issued on the blockchain, the main selling point is "coin price stability", and the price is tightly anchored.

The main reason why there is such a category of stablecoins is that the current access to gold in and out of the currency circle is not very smooth, so there are stablecoins that require stable prices and can be used for funds to enter and exit or withdraw at any time. In addition, due to the existence of currency exchange rate differences between countries, the use of a certain stable currency in a global market can also facilitate the calculation of the underlying value.

Allfunds and ConsenSys Partner to Enhance Privacy for Enterprise Ethereum: October 21 News, Beginning October 21, 2021, ConsenSys will offer Quorum subscriptions through Allfunds Privacy, a new commercial product that allows enterprises to leverage Privacy features developed by blockchain platforms. [2021/10/21 20:46:41]

Let’s talk about the current problems of stablecoins. Since its inception, the word "stable currency" has undergone three changes in form, from fiat currency stable currency generated by 1:1 US dollar collateral such as TUSD to USDJ and DAI, which are generated by over-collateralization of other tokens Stablecoins, and then to the algorithmic stablecoins that are now popular. It can be seen that after several iterations, the trend is getting closer and closer to decentralization. However, as a product of the blockchain, there are also problems similar to the "impossible triangle", that is, it is impossible to achieve decentralization (Decentralization), stability (Stability) and efficient capital utilization (Asset utilization). Can get second. Various stablecoins actually correspond to different groups of people and needs, but there is still a lot of room for expansion.

Jinse Finance: TUSD recently released the TRC20 version based on the TRON network. Why did it choose to issue the TRON chain? On which exchanges can TRC20-TUSD be traded at present? What are the application scenarios?

Annabel: TRON’s high throughput, scalability, and high security have made it one of the busiest public chains for stablecoins. This is also an important reason why TUSD is issued on TRON. Regarding the support of TRC20-TUSD, the P network has opened the deposit and withdrawal entrance, but these are not enough, and more exchanges will plan to support it in the future; in addition, TUSD has launched the strongest AMM in the TRON ecosystem——JustSwap, which supports Users with other currencies can convert to obtain TUSD by themselves and participate in TRON century mining. Users provide TUSD-TRX LP at justswap.io and pledge at sun.io to obtain TRX, BTT, WIN, JST with one click , and SUN five coins income. The current rate of return is maintained at more than 30%, which is a very good investment option. We are also actively preparing some coin deposit and interest-earning activities to encourage users to obtain passive income while holding the safe, transparent and compliant stablecoin TUSD.

In addition, TUSD plans to launch BitTorrent in the future to purchase members. Previously, Pornhub, an important partner of TRON and the world's largest adult website, announced that it supports the TRON version of USDT, and users can pay through the Tron wallet TronLink. If nothing else, TRC20-TUSD will soon be added to this package. In addition, it is also connecting with some 2B payment service providers, encouraging merchants to use TUSD to receive payments, and bringing more usage scenarios to TUSD holders.

Golden Finance: In your opinion, in the future, will cryptocurrencies be more of a value storage medium or a means of transaction (or payment)?

Annabel: As far as the payment method is concerned, many people feel that it is very far away to use cryptocurrencies to directly purchase goods - "coins are only used for speculation". But in fact, the original intention of Bitcoin is to become a peer-to-peer payment cash. Whether it is hype or not, companies like Tesla have included Bitcoin in their balance sheets and accepted Bitcoin as a payment currency. Cryptocurrencies have truly become The means of payment is only a matter of time. But there are also people who hold a different point of view, believing that Bitcoin is an asset and is more of a value storage medium. Li Bo, deputy governor of the People's Bank of China, believes that "Bitcoin and stablecoins are encrypted assets. Encrypted assets are investment options. They are not currencies themselves, but alternative investment products. The main role that encrypted assets may play in the future is as a Investment tools or alternative investments." As a low-volatility encrypted asset, TUSD is more suitable for exercising the payment attribute of currency and weakening the gap between the digital world and the real world.

Tags：

Bitcoin Exchange