Why did MercuriEX list TrueUSD instead of Tether?

in bitcoin •  6 months ago

Why did MercuriEXlist TrueUSD instead of Tether?

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Stablecoins have become the preferred trading pairs on most cryptocurrency exchanges due to the extremely volatile nature of crypto markets. Traders use stablecoins to escape risk in a falling market or to anticipate a downturn in prices. In essence, stablecoins act as a short position without the risk of margin trading.

Tether (USDT), the first stablecoin, is the most widely adopted and liquid for trading. However, Tether comes up short in a couple areas that we felt were not beneficial to MercuriEX users.

An important issue with Tether is not open to regular audits and has no proper process in place to prove that it has sufficient USD reserves.

Another issue is that it is notoriously difficult to redeem Tether for US Dollars making it a poor choice for users that want to take profits and withdraw to personal bank accounts.

Why TrueUSD?

TrueUSD (TUSD) is backed by the US dollar, acting as a stable currency for digital exchange. Every TrueUSD is 100% collateralized by US Dollars. The US Dollar holdings are published regularly and audited by leading firms.

Any MercuriEX user that passes TrustToken’s (TrueUSD issuer) standard KYC/AML process can redeem TUSD for USD. Additionally, once a user is verified they are able to purchase TUSD and transfer to their MercuriEX wallet. You can apply for TrueUSD here.

MercuriEX offers TUSD/BTC right now with plans to add more TUSD pairs. Additionally, we will include a Tether onramp (USDT/TUSD) pair to allow users easier avenues to transfer to MercuriEX.com.

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