Popular USD-backed stablecoin, TrueUSD has been deployed to run as a native token on BNB. In a Wednesday blog post, the stablecoin firm noted that the development will enable users to easily mint and redeem native BSC (BNB Smart Chain) TUSD on the TUSD website. It is noteworthy that this development signifies a significant feat in TUSD’s commitment to multi-chain deployment. Also, the deployment paved the way for the stablecoun to integrate into the BSC (BNB Smart Chain) ecosystem.
In recent times, the BNB chain has established itself as a community-driven, decentralized and censorship-resistant blockchain. According to findings, the chain is made up of BNB Beacon Chain and BNB Smart Chain (BSC). Worthy of note that the chain is compatible with EVM, thereby fostering a multi-chain ecosystem. Today, the BNB chain has emerged as the largest smart contract volume owing to its massive transaction volume and daily users. Certainly, the chain has already processed over 3 billion transactions, with more than 1000 active dApps. Now with its integration of TUSD, it is not the doubt that the BNB chain is expanding its ecosystem.
TUSD is the first stablecoin to offer 24-hour live on-chain attestation
TUSD, on the other hand, has continued to flourish, becoming the first stablecoin to provide 24-hour live on-chain attestation. In recent times, it partnered with numerous banks and other important protocols to promote its offerings. Today, holders of the stablecoin can easily mint and redeem their holdings at any time convenient with them.
Additionally, TUSD is notable in its commitment to harnessing necessary tools to ensuring transparency, stability and security. Before integrating BNB, it integrated Chainlink. This integration paves the way for TUSD to use Proof of Reserves to safeguard its minting.
Meanwhile, TUSD has established an extensive collaboration across the Binance ecosystem. Due to that, Binance has initiated 13 TUSD spot trading pairs while TUSD has adopted numerous Binance products and services. Some of them are Binance VIP loans, Launchpad, and Futures.
Over the years, TUSD has shown appreciable commitment to following the multi-chain system. It has proven this by offering supports for every chain with multiple DeFi ecosystems, thereby enhancing their infrastructure. Now, apart from BNB, the stablecoin has emerged as the native token to scores of blockchains, including Ethereum and TRON. More so, it also earned the backing of notable crypto exchanges like Binance, Huobi, Poloniex and many more.