Binance Delays Listing of TrueUSD Citing Liquidity Concerns
Binance has delayed the the listing of stable-coin TrueUSD, which was scheduled for today. It would be the first offering of an alternative to Tether (USDT), which has drawn much attention for its lack of transparency.
The launch has been moved to Tuesday 22 in order to ensure that any demand is met with proper liquidity, specifics of what that meant were not revealed in a statement.
Due to popular demand, the TrueUSD (TUSD) project team requires more time than originally planned to prepare for sufficient liquidity. Binance will therefore postpone the trading start date to 2018/05/22 04:00 AM (UTC). Deposits for TUSD will remain open during this period. Thank you for your understanding.”
The demand is really there, too. A continued sticking point for USDT skeptics is the lack of real financial backing alluded to by sparse audits of Tether.
TrueUSD has just that, it seems. All of their financial partners have created a system of trusts that will escrow US dollars 1:1 to every TrueUSD token. Reports are published every day and audits carried out monthly.
If supreme transparency causes adoption of TUSD to swell – which was hinted at by a massive, but brief, surge in price to US1.30 – this could be the coming of the other other flippening.
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