Stablecoin TrueUSD, owner Tekterix completely controls operation | CoinDesk JAPAN | CoinDesk Japan

The owners of the stablecoin TrueUSD (TUSD) now have full control over its operations more than two-and-a-half years after purchasing it from cryptocurrency company ArchBlock.

British Virgin Islands company Techteryx acquired the business in December 2020, although previous owner Archbrock continued to manage operations.

TrueUSD Twitter account postOn July 13, Tekteryx took over “full control over all offshore operations and services related to TUSD, including minting and redemption, customer onboarding and compliance,” according to the company.

According to data from CoinMarketCap, TUSD is the fifth largest stablecoin in the world, with a market capitalization of just over $2.8 billion. This year, Binance’s support further accelerated its adoption. In March, the world’s largest cryptocurrency exchange scrapped zero-fee trading for buying and selling bitcoin on several asset pairs, but left TrueUSD in place.

｜Translation: CoinDesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Stablecoin TrueUSD Owner Techteryx to Take Full Control of Operation