Techteryx Assumes Full Control of TrueUSD Operations
Techteryx, the owner of stablecoin TrueUSD (TUSD), has taken full control of its operations after purchasing it from ArchBlock. This move comes more than two and a half years after the initial purchase. Previously, ArchBlock had been managing the operations. Now, Techteryx has taken over all offshore operations and services related to TUSD, including minting, redemptions, customer onboarding, and compliance.
Here are the key points:
– Techteryx, a British Virgin Islands-incorporated firm, bought TrueUSD in December 2020.
– The previous owner, ArchBlock, had been managing the operations until now.
– Techteryx has assumed “full management of all offshore operations and services related to TUSD” as of July 13.
– TrueUSD is the world’s fifth largest stablecoin with a market capitalization of $2.8 billion.
– Binance’s support has contributed to the increased prevalence of TrueUSD this year.
This move signifies Techteryx’s commitment to taking full control and responsibility for TrueUSD’s operations. As the world’s fifth largest stablecoin, TrueUSD continues to gain traction and support from major players in the crypto industry. With Techteryx now at the helm, we can expect further growth and development for TrueUSD in the future.
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