TrueUSD teams up with Signature Bank for real-time minting and redemption services

By Pavithra R

TrueUSD, building a financial ecosystem that encompasses the benefits of traditional fiat-backed stable coins, but with decentralization, has announced its integration into the SigNet payment network developed by Signature, a New York-based, full-service, commercial bank, to deliver real-time minting and redemption services.

Recently, TrueUSD announced its partnership with the crypto-friendly Signature Bank. Through the new integration, TUSD users can enjoy a number of extra benefits on top of offering them more convenient on- and off-ramps. Signature trains dedicated account managers to provide on- and off-line assistance to customers, thereby promising TUSD holders smoother stablecoin minting/redemption services in times of market fluctuations.

“We are happy to have TrueUSD join the ever-expanding ecosystem of Signature. Our cooperation not only consolidates the current services that we provide for our clients, but also cements Signature’s leading position in the sphere of digital assets.” said President and CEO of Signature Joseph J. DePaolo.

TUSD was founded in 2018 and has once reached a market cap all-time high of over $1.7 bn. Signature Bank is the third bank that has entered into a partnership with this stablecoin company. Prior to this cooperation, TrueUSD has collaborated with Prime Trust and Silvergate Bank to provide real-time TUSD minting and redemption services with the help of ultra-performing blockchain networks (PrimeX and SEN).

“TrueUSD aims to offer credible financial choices to the world. Our collaboration with Signature and integration with Signet create for TUSD, a USD-pegged stablecoin that is attested real-time, another opportunity to harvest exponential growth, and for TUSD users across the globe a secure and real-time settlement option.” added President of TrueUSD Jennifer Jiang.