Stablecoin TrueUSD Owner Techteryx to Take Full Control of Operation
Techteryx assumed "full management full management of all offshore operations and services related to TUSD," on July 13
The owner of the stablecoin TrueUSD (TUSD) have taken full control of its operation more than two and a half years after purchasing it from crypto firm ArchBlock.
Techteryx, a British Virgin Islands-incorporated firm, bought the business in December 2020, since then the previous owner ArchBlock has continued to manage its operations.
Techteryx assumed "full management full management of all offshore operations and services related to TUSD, including minting and redemptions plus customer onboarding and compliance," on Thursday, .
TUSD is the world's fifth largest stablecoin with a market capitalization of just over $2.8 billion,. Its prevalence has been boosted this year by . In March, the world's largest crypto exchange eliminated zero-fee trading for buying and selling of bitcoin on several asset pairs, .
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Edited by Parikshit Mishra.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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