Trust Token, the brains behind USD-pegged stablecoin TrueUSD, has announced in a report from a source, its partnership with leading cryptocurrency exchange Binane. The partnership is targeted at enabling Binance users purchase TUSD and also redeem the stablecoin for cash at zero cost.
According to the report, a spokesperson of Trust Token disclosed that the decision is aimed at “bringing a direct fiat-to-crypto onramp/offramp to Binance,” after they must be have registered in their app.
“at this time only TrueUSD is technologically capable of allowing users to purchase and redeem directly from their exchange wallets once they’ve registered in our app.”
Binance has also reportedly listed Paxos (PAX) stablecoin on its platform as Paxos earlier announced that users can now redeem unlimited amount of tokens for the U.S. dollars, which will be executed as swiftly as possible.
The CEO and co-founder of Trust Token, Jai An, assured users that the company “will be rolling out many more solutions to easily purchase and redeem TrueUSD.”
In response to this development, the CEO of Binance, Changpang Zhao, said:
“We’re excited to be working with TrustToken to make purchasing and redeeming stablecoins both easy and secure.”
Trust token, in an earlier report also announced that it would launch four new stablecoin this year which will be pegged to the Australian dollars, Euros, Canadian dollars and Hong Kong dollars.