Share this article
TrustToken Says It Passed 3 Security Audits With No Bugs Found
TrustToken says its tech has passed three independent security audits, while its stablecoin is now seeing trading volume over $1 billion a month.
By Nikhilesh De
Updated Sep 13, 2021, 8:41 a.m. Published Dec 19, 2018, 5:00 p.m.
Make us preferred on Google
Crypto startup TrustToken announced Wednesday that its smart contract has passed three independent security audits conducted by Certik, SlowMist and Zeppelin, with no vulnerabilities found.
Moreover, its TrueUSD stablecoin has now exceeded $1.1 billion in monthly trading volume, with a $200 million market cap, according to the firm's data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As part of its efforts to maintain the stablecoin's security, TrustToken is now storing the U.S. dollars backing the token in multiple third-party trust companies. Each trust company is regulated through the State of Nevada Financial Institutions Division.
The firm now intends to work with trust companies regulated by the Delaware Office of the State Bank Commissioner and the Ohio Department of Commerce as well.
As a result, it said, TrueUSD redemption will not be compromised by a single point of failure should any single institution have issues.
TrustToken CEO and co-founder Danny An explained that the company will continue to focus on regulatory compliance and transparency, adding:
"Over the past year, we have invested heavily in building asset tokenization technology that is not only critical for the cryptocurrency industry, but also equalizes the ability to trade worldwide, and gives people true control over their assets."
Separately, the company announced it has appointed former DoorDash engineer Hendra Tjahayadi as its director of engineering.
Tjahayadi has previously worked with Lyft, Dropcam and Google, and will work on TrustToken's infrastructure security and scalability, according to the company.
Green light image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Gold in 'extreme greed' sentiment as it adds entire bitcoin market cap in one day
Bullion ripped past $5,500 and sentiment gauges hit “extreme greed,” while bitcoin stayed pinned below $90K — a split that’s getting harder to ignore.
What to know:
- Gold’s surge above $5,500 an ounce has taken on the feel of a crowded trade, with its notional value jumping about $1.6 trillion in a single day.
- Sentiment gauges such as JM Bullion’s Gold Fear & Greed Index are signaling extreme bullishness in precious metals, even as similar crypto indicators remain stuck in fear.
- Bitcoin is lagging despite the “hard assets” narrative, trading like a high-beta risk asset while investors seeking a store of value are favoring physical gold and silver over digital tokens.
Top Stories
