TrueUSD says the TUSD stablecoin has “multiple USD rails for minting and redemption” outside of Prime Trust.
on Twitter that its TUSD stablecoin had “no exposure” to the troubled Prime Trust, which is reportedly facing regulatory challenges.reportedly abruptly halted all fiat and cryptocurrency deposits and withdrawals. Numerous clients now find themselves in a predicament, with their funds effectively stranded due to the sudden disruption.
In light of the recent news, TrueUSD promptly announced that “it is not affected by the situation” at Prime Trust. TrueUSD emphasized that it had diversified its partnerships and maintained “multiple USD rails” elsewhere. The announcement read: “PrimeTrust has suspended all deposits of fiat and digital assets. #TrueUSD is not affected by this situation. We have no exposure to Prime Trust and maintain multiple USD rails for minting and redemption. Rest assured, all your funds are safe with TUSD.”
Prime Trust is a technology-driven trust company that provides a range of services to digital asset companies. Its offerings encompass token and fiat custody, funds processing, Anti-Money Laundering compliance and Know Your Customer regulations, and transaction technology solutions. The company plays a crucial role in supporting the cryptocurrency ecosystem.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
TrueUSD Says TUSD Stablecoin Has ‘No Exposure’ to Embattled Prime TrustStablecoin project TrueUSD said Thursday it had “no exposure” to embattled crypto services company Prime Trust as it raced to shore up confidence in its dollar-backed TUSD. realDannyNelson reports
Leer más »
BitGo says it's terminating acquisition of Prime TrustBitGo said Thursday that it's terminating the acquisition of crypto custodian Prime Trust, just two weeks after it announced plans for the deal.
Leer más »
Crypto Custody Firm BitGo Cancels Prime Trust AcquisitionPrime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one former client told CoinDesk.
Leer más »
BitGo terminates acquisition of Prime TrustBitGo shared that it had arrived 'at the hard decision to terminate its acquisition of Prime Trust' after much consideration.
Leer más »
Bitgo Abandons Acquisition of Prime Trust Amidst Nevada-Based Custodian's Ongoing Uncertainty – Bitcoin NewsThe crypto company Bitgo cited a 'considerable effort' in attempting to chart a course for Prime Trust’s future.
Leer más »
Prime Trust halted deposits, withdrawals after order from Nevada regulatorPrime Trust temporarily halted deposits and withdrawals of both fiat and crypto after receiving an order from the Nevada Financial Institution Division, according to fiat onramp service Stably.
Leer más »