TrueUSD team unveils yuan-backed stablecoin on TRON network

The TrueUSD (TUSD) team announced the launch on the TRON blockchain of the yuan-pegged stablecoin TCNH. ForkLog was informed by project representatives.

According to the press release, the ‘stablecoin’ meets all legal and technical requirements and is undergoing checks by leading auditors.

‘We believe that TCNH will further strengthen our position in the digital-currency infrastructure and contribute to efforts to create a reliable and decentralised global payment network,’ said Annabelle Gan, Director of Marketing and Business Development at TUSD.

As of writing, TrueUSD ranks seventh among stablecoins by market capitalization, at $752.9 million.

In 2019, the TrustToken platform signed a partnership with accounting firm Armanino, enabling traders to monitor in real time TUSD’s fiat-dollar backing.

Earlier in December 2022, Tether released CNH₮ on the offshore yuan in the Tron network.

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