TrueUSD

Amid regulatory challenges faced by Nevada-based Prime Trust, TrueUSD, a leading stablecoin project, <a href="https://twitter.com/tusdio/status/1671898163039596544?s&#61;20" rel="noopener noreferrer nofollow">assured stakeholders</a> on June 22 that it had no financial exposure to the troubled trust company. Prime Trust, a crucial player in the crypto ecosystem, was compelled to halt all fiat and cryptocurrency transactions following an order from state regulators, leaving many clients with inaccessible funds.Prime Trust, an integral player in the cryptocurrency ecosystem offering a variety of services, including digital asset custody and transaction technology solutions, had suddenly ceased all fiat and cryptocurrency deposits and withdrawals on the same day. This move came in response to an <a href="https://twitter.com/MikeBurgersburg/status/1671888919636643843?s&#61;20" rel="noopener noreferrer nofollow">order</a> from state financial regulators and left many clients in a precarious situation with their funds effectively stranded.TrueUSD emphasized in the announcement that it had previously diversified its partnerships and was thus insulated from the disruption at Prime Trust. The company underscored that it maintained multiple channels for handling U.S. dollars and no longer relied on Prime Trust for the minting or redemption of its TUSD stablecoin​.-Read full article at <a href="https://cryptotale.org/trueusd-cuts-cord-with-embattled-prime-trust-says-no-exposure/" rel="noopener noreferrer nofollow">CryptoTale.</a>

TrueUSD Cuts Cord with Embattled Prime Trust: Says No Exposure

CryptoTale

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