banking network
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TrueUSD suspends TUSD casting and redemption business for Signature Bank users amidst regulatory closure
It is reported that TrueUSD tweeted that the Signature Bank has been closed by the US regulators, so TrueCoin suspended the TUSD casting and redemption business for a small number of Signature Bank users. The coinage and redemption of other users in the TrueUSD banking network have not been affected. TrueUSD: part of USD funds are deposited in Signature Bank Analysis based on this information:TrueUSD, a stablecoin pegged to the US dollar, recently announced that it has suspended the TUSD casting and redemption business for a small number of Signature Bank users. The reason behind this move was the reported closure of Signature Bank by US regulators. This means that users associated with the affected bank will not be able to use TrueUSD at the moment. However, the coinage and redemption of other users in TrueUSD’s banking network remain unaffected by the regulatory closure. TrueUSD is one of the few cryptocurrencies that is not as volatile as others due to…
