In anticipation of our upcoming Security Token Offering (STO), Blockport is excited to announce a new partnership with TrueUSD (TUSD).
The partnership is a large first step into Blockport’s US-market roll-out, and will allow Blockport users to begin trading BPT with a collateralized token backed by the US Dollar. This platform integration will see Blockport supporting USD-backed trading pairs and serves as a stepping stone to accept US Dollar deposits on the platform.
“Global metrics show that USD trading pairs have the highest trading volumes, and are the most used currency for trading Bitcoins,” said Sebastiaan Lichter, co-founder and Chief Product Officer at Blockport. “This is a huge step toward bringing Blockport to the US Market and the markets of over 150 other countries and jurisdictions worldwide.”
The first trading pair (BPT/TUSD) is set to launch in Q2, 2019. Following this launch, Blockport traders will be able to begin trading BPT with a collateralized token pegged to the price of the US dollar in early Q2, 2019.
By creating a space in which both TrustToken and Blockport can combine their complementary services, that bridge is reinforced, creating a win-win scenario that supports the industry as a whole, as well as traders worldwide.
“Blockport and TrustToken have both set out to build solutions that seamlessly bridge the traditional world of finance with the new digital economy,” said Tory Reiss, Co-founder and Head of Partnerships and Business Development at TrustToken. “We are excited to be working with Blockport to greatly advance this mission and bring the benefits of tokenized currencies to more people around the world.”
For additional information about the Blockport and TrueUSD partnership, you can read more in the press release on Cointelegraph.
About TrueUSD and TrustToken
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized by US dollars, legally protected, and attested monthly. TrueUSD uses multiple fiduciary and bank partners to reduce counterparty risk and provide token-holders with legal protections of the underlying funds. TrueUSD is the first major product built on the TrustToken platform.
TrueUSD is a fully regulated stablecoin that is fully backed by US dollars and can be used on exchanges for trading with Bitcoin and other leading cryptocurrencies. Currently, it’s within the top 30 largest market cap tokens on CoinMarketCap.
Since 2018, TrueUSD has launched on several of the top exchanges in the world (Binance, Huobi, OKEx, Bittrex, Upbit, Digifinex, and HitBTC) with pairs against BTC, ETH, XMR, ZRX, LTC, NEO, BCH, and Tether. TrueUSD is also traded on Cumberland Mining, one of the largest cryptocurrency OTC desks in the world. At the time of writing, TrueUSD is traded on more than 70 exchanges around the world with over 200 pairings.
Blockport is launching its first equity-based fundraising round through a Security Token Offering (STO), launching on the 31st of March 2019.
Blockport is an Amsterdam-based, fiat-to-cryptocurrency trading platform that strongly focuses on usability and social trading features to provide a secure, efficient and enjoyable experience to its users.
The Blockport platform is connected to external exchanges and aggregates liquidity through its smart-order-routing system to automatically offer the best prices to its users.
In the coming year, Blockport is building on a hybrid-decentralized architecture that allows users to trade with high performance, whilst safely storing their funds on a blockchain wallet, meaning they own their private keys.