TrueUSD (TUSD), the popular stablecoin, has announced a significant milestone in its journey towards global expansion. In December 2020, TrueCoin, LLC, a subsidiary of Archblock, Inc., transferred the business ownership of TrueUSD to Techteryx, an Asia-based consortium. With this transition, Techteryx brings its substantial resources and global network to support the growth of TrueUSD and explore new markets. The transfer of ownership allowed Archblock to focus on operational and compliance aspects while Techteryx takes charge of international operations and services related to TrueUSD.
Techteryx’s Vision for Global Expansion
Techteryx’s acquisition of TrueUSD marks a significant step towards the stablecoin’s global expansion. With its vast network and resources, Techteryx aims to broaden the use cases of TrueUSD in international markets. This move aligns with Techteryx’s vision to establish TrueUSD as a leading stablecoin worldwide, providing users with a reliable and efficient digital asset that bridges the gap between traditional and digital finance. The consortium’s expertise in navigating global markets and understanding local regulations positions TrueUSD for enhanced adoption and accessibility in various regions.
Final Stage of International Transition
Effective July 13, 2023, TrueUSD’s international transition enters its final stage as Techteryx assumes full management of all offshore operations and services related to the stablecoin. This includes critical functions such as minting and redemptions, customer onboarding and compliance, as well as the supervision of fiat reserves and banking relationships. The transfer of these responsibilities to Techteryx signifies the consortium’s commitment to driving TrueUSD’s growth on a global scale and ensuring the seamless operation of the stablecoin’s infrastructure.
Continuous Support for Existing US Users
During the transition period, the Archblock team will continue to provide support for existing TrueUSD users based in the United States. While Techteryx assumes management of offshore operations, Archblock remains committed to assisting US users and ensuring a smooth transition. This collaboration between Archblock and Techteryx demonstrates their shared dedication to maintaining customer satisfaction and upholding the highest standards of service throughout the changing landscape of TrueUSD.