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Binance Delays TrueUSD Launch Due to ‘Popular Demand’ and Liquidity Concerns

Adam James · May 17, 2018 · 6:00 pm

After announcing its plans to start offering TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), Binance has postponed the launch of the USD-pegged stablecoin. 

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Delayed on the Launchpad

Binance will no longer be launching TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), as was originally planned. Instead, the hugely popular cryptocurrency exchange will start offering TUSD trading on May 22nd, at 4:00 am (UTC).

delay street sign

The change apparently comes after an evaluation of the coin’s interest in the community brought forth concerns over having sufficient liquidity. Notes Binance in an official announcement:

Due to popular demand, the TrueUSD (TUSD) project team requires more time than originally planned to prepare for sufficient liquidity. Binance will therefore postpone the trading start date to 2018/05/22 04:00 AM (UTC). Deposits for TUSD will remain open during this period. Thank you for your understanding.

What is TrueUSD?

As Bitcoinist previously reported, TrueUSD is a stablecoin designed to match the US dollar’s valuation at a one-to-one ratio, meaning one TUSD roughly equates to one USD — at least in terms of value. Therefore, it is not entirely dissimilar to the sometimes controversial stablecoin, Tether (USDT).

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Binance

Unlike Tether (USDT), however, TrueUSD is reportedly much more regulatory compliant. Explained Binance:

In the TrueUSD system, U.S Dollars are held in the bank accounts of multiple trust companies that have signed escrow agreements, rather than in a bank account controlled by a single company….

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