TechFlow news — According to the official Twitter account of stablecoin TrueUSD (TUSD), starting July 13, 2023, TrueUSD will begin the final phase of its international transition. The Asian consortium Techteryx, which holds ownership of the business, will assume full management of all U.S.-offshore operations and services related to TUSD, including minting and redemption, user onboarding and compliance, fiat reserves, and oversight of TUSD's relationships with banking and trust partners.
In addition, a transition period will be provided to ensure existing U.S. users continue to receive necessary support. This support will primarily be handled by Archblock, the founding company of TrueUSD, with assistance from Techteryx as needed.
TUSD was the first digital asset to be pegged to the U.S. dollar at a 1:1 ratio and verified in real-time on-chain by an independent third party. In December 2020, TrueCoin, LLC (a subsidiary of Archblock, Inc.) transferred ownership of the TrueUSD business to Techteryx, an Asia-based consortium.
