Currency Economy

TrueUSD Integrates with Signature Bank’s Blockchain-based Payments Platform, Signet™

Cryptocurrency2 minutes ago (Jun 22, 2021 02:30AM ET)TrueUSD Integrates with Signature Bank’s Blockchain-based Payments Platform, Signet™TrueUSD Integrates with Signature Bank’s Blockchain-based Payments Platform, Signet™

  • TrueUSD partners with Signature Bank’s blockchain-related payments platform Signet.
  • The partnership is made to introduce proof of reserve to the stablecoin sector.
  • The integration helps users enjoy real-time payments in US dollars 24/7/365.

There is a legitimate case to be made for Stablecoins as one of the most significant pillars of liquidity in the cryptocurrency market as well as the world of traditional finance.

While mostly known for mitigating crypto volatility, dollar-backed stablecoins make it possible for banks that are integrating private blockchains into their services to facilitate instantaneous cross-border USD payments for their commercial clients.

However, the biggest risk for USD-backed stablecoin users is counterparty risks. It all boils down to proper regulation as central counterparties (CCPs) who typically verify underlying securities (in this case US dollars) are few and far between in the sector. Many stablecoin issuers rarely provide transparency about their USD reserves.

Two players, however, are chang…

This article was first published on coinquora.com

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