TUSD Ownership Change

Reading time saved: 2 minutes

4 replies, 4308 views, 6 likes



TrustToken CEO, Rafaelcosman, has announced the transfer of TUSD ownership to Asia-based consortium, Techteryx, which will partner with Tron for product development. Despite the change, TrustToken Inc. will still manage TUSD operations, compliance, and banking relations, with no plans for smart contract upgrades, and the new team will continue to work with TrustToken on the TUSD product.

TrustToken CEO, Rafaelcosman, announced a significant change in the ownership of TUSD. The ownership is being transferred to an Asia-based consortium, Techteryx, which will collaborate with Tron to develop and grow the product. Despite the change in ownership, TrustToken Inc. will continue to manage the operations, compliance, and banking relations of the TUSD product. There are no plans for smart contract upgrades at this time1.

In response to queries from community members like Alex_BertoG, Rafaelcosman clarified that the TrustToken team will continue working on TUSD, but they are no longer the ultimate owners. The private keys will be managed in the same way as before, by the new TUSD management team with multisignature, a Gnosis SAFE solution. All TUSD funds will be held at fully licensed and regulated banks and trust companies in the United States and Hong Kong. The underlying reserves will continue to be audited and attested to on a live basis by Armanino LLP2,3.

Annabel_trueusd confirmed that the new TrueUSD team will continue to work with the Trust Token team on the TUSD product on compliance, banking relations, etc. She expressed excitement about the continued collaboration between TUSD and AAVE, and looked forward to what 2021 holds for both communities4. The transition in ownership is expected to bring further support in marketing budget, liquidity, customer success, and engineering resources, ensuring that TUSD remains a trusted and beloved product4.

Posted 3 years ago

Last reply 5 months ago

Summary updated 2 months ago

Last updated 09/12 13:53