Stablecoins have maintained a strong growth momentum against the occasionally frustrating crypto market. Recently, the TUSD-TRX pool on the decentralized trading platform SunSwap has yielded up to 12%, and the vault of TUSD achieved an APY of as high as 11.2% on the decentralized yield optimizer Beefy Finance (BNB). These APYs are eye-catching indeed! Apart from the yield, security is also a major consideration for those who seek to entrust their assets to a stablecoin service provider. In the case of TUSD, asset security is ensured by two safeguards, one being its transparent reserves. TrueUSD is attested live by Armanino, one of the largest U.S.-based accounting firms, to ensure the 1:1 ratio of its USD reserve to its circulating token supply and thus a 100% collateral rate. The other safeguard is its partner banks. The banks (or custodians) matter as they are responsible for holding the USD assets that back the value of TUSD for safekeeping. So, which banks are holding TUSD’s USD reserve, and what strengths do they have? Truly is here to help you find out the answer today. At present, TrueUSD collaborates with five trusted partner banks—Signature Bank, Silvergate Bank, Prime Trust, First Digital Trust, and BitGo. Now we will walk you through the advantages of these banks. Signature Bank Signature Bank is the first FDIC-insured bank to launch a blockchain-based digital payments platform. Introduced in January 2019, Signet the platform is committed to providing fast and stable real-time crypto payment services. It is a payment ecosystem built on the blockchain and also the first platform approved by the New York State Department of Financial Services.  It is based on Ethereum and allows clients to make real-time payments in U.S. dollars 24/7 all year long. On June 18, 2021, TrueUSD announced a partnership with Signature Bank, a New York-based full-service commercial bank. TUSD was then integrated into Signature Bank’s payment network Signet, which allows its users to enjoy 24/7 minting services that can be completed within 2 minutes on average, greatly improving its financial efficiency and user experience. Also, with Signet, TUSD is able to provide free-of-charge transaction services to cater to users’ needs. Signature Bank is dedicated to serving institutional customers. It will designate account managers to customers with a large transaction volume to help them online and on-site in a timely manner. Silvergate Bank In January 2014, Silvergate became one of the first banks to set up accounts for cryptocurrency transactions. It is one of the few “crypto-friendly” banks and a leading provider of innovative financial services in the crypto space. As of today, Silvergate has provided services for 750 crypto exchanges. In 2017, it launched a dedicated trading network that allows investors to transfer funds between crypto exchanges globally on a 24/7 basis. Now, Silvergate is accelerating the growth of the crypto market and reshaping global commerce for digital currencies. By leveraging the Silvergate Exchange Network (SEN), TUSD provides users with efficient token minting services. Unlike traditional banks, TUSD puts a premium on users’ needs and offers 24/7 minting, redemption, and settlement services to boost the efficiency of using TUSD. Prime Trust Prime Trust is an industry-leading trust company. As a chartered, regulated financial institution, it’s overseen by the banking commissioner’s office at the Nevada Financial Institutions Division. Prime Trust is also a member of the American Bankers Association and Nevada Trust Company Association, as well as a crypto-friendly bank seasoned in the digital economy, trust business, securities regulations, and government affairs. PrimeX allows TUSD holders to mint and redeem their tokens 24/7 and provides optimal instant settlement. First Digital Trust First Digital Trust was built in 2017, under the umbrella of First Digital Trust Limited. It’s brought together skills from the traditional financial world and knowledge of the digital assets economy to offer open finance solutions.  After spinning off and becoming our own company in 2019, First Digital Trust became a fully independent public trust company headquartered in Hong Kong. Users can mint and redeem their tokens through First Digital Trust, TrueUSD’s trust partner. Please note that First Digital Trust applies minimum and maximum thresholds for mints and redemptions, the upper limit amount of a single minting or redemption is $400K.  So, for those minting and redeeming relatively small amounts of TUSD, First Digital Trust is your go-to choice. BitGo Headquartered in Palo Alto, BitGo is one of the world’s largest and oldest custodians of digital assets. BitGo was granted the trust license by the New York State Department of Financial Services and has been active in both centralized and decentralized finance spheres. BitGo offers best-in-class trading and lending services through its prime brokerage services and facilitates the operation and security of over 500 institutional clients spanning 50 countries,  including many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo offers custody services for TUSD, and its multi-signature wallets have supported TUSD, enabling users to purchase TUSD within the wallet, and better secure their assets. Currently, BitGo does not charge any purchase or exchange fees, but the minimum amount required for minting and redemption is $1000 worth of TUSD, and there is no upper limit when individual or institutional users mint or redeem TUSD via PrimeTrust, Silvergate Bank or Signature Bank. After you read the introductions above, we believes that you have gained insight into the banking partners of TUSD. The perfect integration of TUSD, a compliant and transparent stablecoin, and the banks’ innovative technology and platform facilitates users to address trading-related issues, improving financial services and user experience. Meanwhile, this is also a critical time for TrueUSD to build its credit so that more users will choose to hold TUSD. Down the road, TrueUSD will further expand its collaborations with banks for better solutions, offering safe, efficient, and convenient financial services for TUSD users.  
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