The rise of TrueUSD (TUSD) as a stablecoin has seen many card providers integrate the token as a part of their services. In one such partnership, Bit.Store on Friday announced a new collaboration with TUSD. The Berlin-based crypto card provider will now integrate TUSD as a tradable cryptocurrency for its card recharge.

Bit.Store to offer TUSD for card recharge

Bit.Store and TrueUSD on Friday announced a new partnership. Under the collaboration Bit.Store now allows its users to use TUSD for card recharges.

Moreover, through the partnership, Bit.Store aims to continuously improve its service portfolio. The card provider proposes to give its user base worldwide access to an ever-growing range of cryptocurrency spending options.

TUSD to enhance security for Bit.Store users

TUSD as a digital currency is pegged to the US dollar and is known for its reliability . The digital currency usually uses smart contracts to facilitate the issuance of a tokenized version of the US dollar.

As the first stablecoin to use independent third-party institution-verified real-time attestations for its reserve holdings, TUSD is a more stable and  transparent virtual asset in the market. These holdings are routinely audited by external parties and the findings are made available to the general public to further ensure transparency.

According to Bit.Store, TUSD is well-known for its dependability and will ultimately provide its clientage an enhanced experience of safe and simple-to-use financial services.

Bit.Store also currently plans to expand via a mobile app, grow its ambassador program, and add new top-up options like Bitcoin ordinals in the near future.

TUSD current price and trends

TrueUSD on Friday underwent a dramatic de-pegging, falling from its stable value to $0.9712. This follows TUSD’s previous decline to $0.98.

Meanwhile, at press time, the TrueUSD price was seen nearing its stable value of $1. It traded at $0.9905, gaining 0.35% in value on January 18. Whilst, its market cap stood at $1.89 billion. Moreover, its 24-hour trade volume slumped by 60% to a near $159 million.

On the other hand, First Digital USD (FDUSD), TrueUSD’s rival, had been trading at a premium since the Manta Launchpool.On the day of the announcement it reached a high of $1.0043. However, the TUSD price continued declining before stabilizing significantly today.

 

The post Bit.Store to Include TUSD for Card Recharge as Stablecoin Gains Reliability appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am