TrustToken Launches Pound Sterling Stablecoin
- TrueGBP is the second fiat-mirroring cryptocurrency that the firm has launched.
Cryptocurrency firm TrustToken announced the launch of a new stablecoin this Tuesday.
TrueGBP mirrors, at a ratio of 1:1, the price of the British pound sterling.
“We are excited to be launching TrueGBP to provide our users with access to one of the most traded currencies in the world,” said Rafael Cosman, a TrustToken co-founder and the company’s head of engineering and product.
In November of last year, the company launched StableUSD.
As the name suggests, this cryptocurrency mirrors - also at a ratio of 1:1 - the price of US dollars.
Exchanges soon
For now, TrueGBP can only be purchased via TrustToken’s mobile application and a number of firms, including Alameda Research, Bluefire Capital, Galois Capital, and QCP Capital, which operate over-the-counter trading desks.
[embed]https://twitter.com/TrustToken/status/1113074774513639424[/embed]
In a statement issued on its Medium blog, TrustToken said that it expects TrueGBP to start trading on exchanges “soon” but did not provide any precise timelines.
The company says that it plans on launching more stablecoins in the future.
According to the cryptocurrency firm, stablecoins are a key means by which to bring institutional cryptocurrency investors into the cryptocurrency markets.
“Everyday users and large institutions do not need to know the inner workings of the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, they just want to be able to easily experience the benefits,” said Cosman.
“By building the tools that invisibly integrate fiat-to-crypto transactions into applications and exchanges around the world, we are spearheading solutions for the single greatest challenge in the blockchain world: adoption.”
Cryptocurrency firm TrustToken announced the launch of a new stablecoin this Tuesday.
TrueGBP mirrors, at a ratio of 1:1, the price of the British pound sterling.
“We are excited to be launching TrueGBP to provide our users with access to one of the most traded currencies in the world,” said Rafael Cosman, a TrustToken co-founder and the company’s head of engineering and product.
In November of last year, the company launched StableUSD.
As the name suggests, this cryptocurrency mirrors - also at a ratio of 1:1 - the price of US dollars.
Exchanges soon
For now, TrueGBP can only be purchased via TrustToken’s mobile application and a number of firms, including Alameda Research, Bluefire Capital, Galois Capital, and QCP Capital, which operate over-the-counter trading desks.
[embed]https://twitter.com/TrustToken/status/1113074774513639424[/embed]
In a statement issued on its Medium blog, TrustToken said that it expects TrueGBP to start trading on exchanges “soon” but did not provide any precise timelines.
The company says that it plans on launching more stablecoins in the future.
According to the cryptocurrency firm, stablecoins are a key means by which to bring institutional cryptocurrency investors into the cryptocurrency markets.
“Everyday users and large institutions do not need to know the inner workings of the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, they just want to be able to easily experience the benefits,” said Cosman.
“By building the tools that invisibly integrate fiat-to-crypto transactions into applications and exchanges around the world, we are spearheading solutions for the single greatest challenge in the blockchain world: adoption.”