TrueUSD
TrueUSD is a USD-pegged stablecoin launched in 2018 by TrustToken, serving cryptocurrency traders, DeFi users, and global payment users across 80+ exchanges and 9 blockchain networks, distinguished by daily independent reserve attestations and Chainlink Proof of Reserves integration.
- Company typePrivate
- Founded2018
- HeadquartersSan Francisco, United States
- Headcount—
- GTM typeB2C
- OfferingSoftware
What TrueUSD does
TrueUSD (TUSD) is a USD-pegged stablecoin launched in March 2018 by TrustToken, headquartered in San Francisco. It operates as a digital currency built for trading, cross-border payments, and DeFi liquidity provision, with $3+ billion in circulating supply as of June 2023 and daily trading volume exceeding $1 billion in Q3 2023. The platform is built on smart contract-based minting and redemption across nine blockchain networks — natively deployed on Ethereum, TRON, Avalanche, and BNB Smart Chain, with bridged support on Polygon, Arbitrum, Cronos, Optimism, and Aurora. Core technology includes Chainlink Proof of Reserves integration for real-time on-chain reserve verification and daily independent attestations by Moore Hong Kong, positioning TUSD as a transparency-focused stablecoin in a market dominated by USDT and USDC.
The business model is primarily indirect: while minting and redemption are offered to users without fees (minimum redemption $1,000), TrueUSD generates revenue through transaction fee pass-through on exchange trading activity across 80+ cryptocurrency exchanges and 160+ markets, plus float income between wire transfer processing (1-5 business days) and token minting timelines. Customer segments include cryptocurrency traders, DeFi liquidity providers, global payment users seeking faster and cheaper cross-border transfers, and institutional users requiring compliant stablecoin infrastructure. Distribution channels include the TrueUSD self-serve app, exchange listings anchored by Binance (where TUSD is the largest Bitcoin trading pair), DeFi protocol integrations (Curve, PancakeSwap), and 20+ OTC desks across five continents.
The company announced a strategic transition in February 2026 from TUSD to USDD, a next-generation stablecoin with expanded multi-chain utility and integrated reward mechanisms, while maintaining full TUSD redeemability. TUSD also achieved sovereign-level recognition as legal tender in Dominica in October 2022 and is positioning for compliance with the GENIUS Act regulatory framework for stablecoins.
TrueUSD firmographics
Firmographics- Name
- TrueUSD
- Legal name
- TrueUSD
- Website
- https://tusd.io
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Short description
- TrueUSD is a USD-pegged stablecoin launched in 2018 by TrustToken, serving cryptocurrency traders, DeFi users, and global payment users across 80+ exchanges and 9 blockchain networks, distinguished by daily independent reserve attestations and Chainlink Proof of Reserves integration.
- Ownership category
- akta.pro rank
TrueUSD industry classification
Industry- Product category
- Stablecoin (USD-pegged digital currency)
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Stablecoin Issuers (Fiat-Backed) (FSADADAA)
- akta.pro secondary industries
- Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Compliance, Attestations, Proof-of-Reserves & Reporting (Stablecoins) (FSADADAI)
Keywords
Where TrueUSD is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
TrueUSD business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Operations, Personnel
Revenue model
- Transaction Fees: TrueUSD generates revenue through transaction fees charged on trading activities across exchanges where TUSD is listed. The stablecoin is used as a trading pair on 80+ cryptocurrency exchanges and DeFi protocols.
- Mint/Redeem Services: While minting and redemption are currently free for users, TrueUSD earns revenue from the float between wire transfer processing and token minting timelines, as well as potential future fee structures.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Free Minting and Redemption |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
TrueUSD product offering
Product offeringCore offering
TrueUSD issues TUSD, a USD-pegged stablecoin that is the first to deploy daily independent attestations of its underlying reserves (by Moore Hong Kong) and uses smart contracts with Chainlink Proof of Reserves for real-time on-chain verification of reserve coverage. The token is natively deployed across Ethereum, TRON, Avalanche, and BNB Smart Chain and bridged to Polygon, Arbitrum, Cronos, Optimism, and Aurora. Users can mint and redeem TUSD via the TrueUSD web app without fees, subject to KYC/AML verification and a $1,000 minimum redemption.
Product overview
TrueUSD offers a unified stablecoin platform anchored by TUSD, the first USD-pegged stablecoin with daily independent reserve attestations and Chainlink-powered on-chain verification. The ecosystem includes USDD (the next-generation upgrade with expanded utility and reward mechanisms) and a web-based app for account management, minting, redemption, and wallet administration. All products share core infrastructure for real-time reserve verification, multi-chain deployment across 9 networks, and integration with 80+ exchanges and DeFi protocols.
Differentiator
Problem solved
Functional benefit
Brands
- USDD: Next-generation stablecoin representing an upgrade from TUSD with expanded utility across emerging on-chain ecosystems, integrated reward mechanisms, and broader compatibility across multi-chain environments.
Products and services
- TUSD (TrueUSD) USD-pegged stablecoin that is the first to deploy daily attestations of its underlying reserves by independent third-party institutions. Uses smart contracts with Chainlink Proof of Reserves for real-time on-chain verification of reserve coverage. Minted and redeemed via the TrueUSD app with no fees, subject to KYC/AML verification and a $1,000 minimum redemption. Listed on 80+ exchanges and DeFi protocols.
- USDD Next-generation stablecoin representing a forward-looking extension of TUSD, preserving transparency, stability, and full backing while adding expanded utility across emerging on-chain ecosystems, integrated reward mechanisms, and broader multi-chain compatibility.
- TrueUSD App Web-based application where users create accounts, complete KYC/AML verification, mint and redeem TUSD tokens, manage wallet addresses, and track transaction history. Supports wire transfers to and from banking partners for fiat on/off ramps.
Quantifiable outcome
- Up to 100x cheaper and 1000x faster than wire transfers
- +2 more outcomes
Companies that use TrueUSD
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
TrueUSD technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
TrueUSD partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and major.
- Moore Hong KongcoreGlobal leading accounting firm providing daily attestation services for TUSD's fiat reserves, enhancing transparency and trust through independent verification of reserve backing.
- ChainlinkcoreProvides Proof of Reserve technology to secure TUSD minting and ensure transparent on-chain verification of underlying reserve coverage.
- BinancecoreMajor cryptocurrency exchange where TUSD is listed and makes up the largest Bitcoin trading pair. TUSD launched on Binance in May 2018.
- HuobimajorCryptocurrency exchange partner for TUSD listing and trading.
- Curve FinancemajorMajor DeFi protocol with TUSD liquidity pools for stablecoin trading.
- PancakeSwapmajorLeading DEX on BNB Chain with TUSD trading pairs and liquidity provision.
- TrustTokencoreParent company that launched TrueUSD in March 2018, providing foundational technology and operational support for the stablecoin.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
TrueUSD competitors and assessment
Company assessmentDirect peers
- Frax Finance: Frax issues a fractional-algorithm + collateral-backed USD stablecoin (FRAX) and broader on-chain monetary products. Competes directly with TUSD for DeFi liquidity, Curve pools, and cross-chain stablecoin trading on Ethereum and BNB Chain.
- Paxos: Paxos issues the regulated Pax Dollar (USDP) and previously BUSD, and is a key infrastructure provider for several fiat-backed stablecoins. Operates in the same compliance-led, attestation-driven USD stablecoin category as TUSD.
- Tether: Tether issues USDT, the dominant USD-pegged stablecoin with the largest market cap and trading volume. Directly competes with TUSD on every major exchange and DeFi protocol, controlling a majority of stablecoin settlement flows.
- Circle Internet Group: Circle issues USDC, the second-largest USD stablecoin and TUSD's most direct competitor for transparency-led, regulated, fiat-backed stablecoins. USDC and TUSD both target exchange listings, DeFi liquidity, and institutional rails under similar regulatory frameworks.
- MakerDAO / Dai: MakerDAO issues Dai, an early USD-pegged crypto-backed stablecoin with deep DeFi liquidity. Competes with TUSD for DeFi liquidity provisioning and on-chain settlement flows across Ethereum and other EVM chains.
- Gemini Dollar (GUSD): Gemini, a New York-regulated crypto exchange and custodian, issues the Gemini Dollar (GUSD) as a regulated, fiat-backed stablecoin with regular attestations. Comparable to TUSD in emphasizing regulatory compliance and reserve transparency.
Broad incumbents
- PayPal USD (PYUSD): PayPal, a global payments incumbent, issues PYUSD — a regulated USD stablecoin aimed at payments and commerce flows. Not a direct exchange-trading competitor but pursues overlapping payments, merchant, and consumer use cases for TUSD.
Emerging players
- First Digital Labs (FDUSD): First Digital Labs issues FDUSD, a fiat-backed USD stablecoin that has rapidly scaled trading volume through Binance listings. Closely comparable to TUSD in the non-USDT/non-USDC fiat-backed stablecoin tier with high exchange-driven volume.
Others
- TrustToken: TrustToken is the original entity that launched TrueUSD in March 2018 and remains closely aligned with TUSD's ecosystem. A parent/sister entity rather than a direct competitor, providing foundational technology and operational infrastructure for TUSD.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks9 records
Key highlights8 records
Customer concentration
TrueUSD social profiles
Digital presenceTrueUSD financial estimates
Financial estimateRevenue estimate
Valuation estimate
TrueUSD leadership team
Management profileNumber of profiles
TrueUSD funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TrueUSD M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TrueUSD
What does TrueUSD do?
TrueUSD issues TUSD, a USD-pegged stablecoin that is the first to deploy daily independent attestations of its underlying reserves (by Moore Hong Kong) and uses smart contracts with Chainlink Proof of Reserves for real-time on-chain verification of reserve coverage. The token is natively deployed across Ethereum, TRON, Avalanche, and BNB Smart Chain and bridged to Polygon, Arbitrum, Cronos, Optimism, and Aurora. Users can mint and redeem TUSD via the TrueUSD web app without fees, subject to KYC/AML verification and a $1,000 minimum redemption.
Is TrueUSD a public or private company?
TrueUSD is a private company. It is classified as unknown and is currently operating.
When was TrueUSD founded?
TrueUSD was founded in 2018.
Where is TrueUSD based?
TrueUSD is headquartered in San Francisco, United States, in the North America region.
How does TrueUSD make money?
Two revenue lines are on record. Transaction Fees are the primary driver. The others are mint/Redeem Services.
Who are TrueUSD's main competitors?
Direct peers on record are Frax Finance, Paxos, Tether, Circle Internet Group, MakerDAO / Dai and Gemini Dollar (GUSD). PayPal USD (PYUSD) is listed as a broad incumbent. First Digital Labs (FDUSD) is listed as an emerging player. TrustToken is listed as an others.
Does TrueUSD have an API?
No public API is recorded for TrueUSD.
What industry is TrueUSD in?
TrueUSD's product category is Stablecoin (USD-pegged digital currency). Its primary akta.pro industry code is FSADADAA, Stablecoin Issuers (Fiat-Backed), with a secondary code of FSADADAE, Mint/Redeem, Issuance APIs & Treasury Operations Platforms. Its NAICS code is 522320 and its SIC code is 6200.