What Is TrueAUD (TAUD)?

TrueAUD is a Australian dollar stablecoin pegged to AUD at 1:1. launched 2019, 

TrueAUD is one of a number of cryptocurrency stablecoins administered by TrustToken, a platform for tokenizing real-world assets.

As with other stablecoins, TrueAUD aims to facilitate increased liquidity and provide cryptocurrency traders and general users with a nonvolatile asset relative to free-floating tokens such as Bitcoin (BTC).

The new Australian dollar-backed stablecoin, TrueAUD, is one of several currencies TrustToken launched to open up new opportunities for payments, international remittances, and foreign exchange.

Who Are the Founders of TrueAUD?

TrueAUD is a stablecoin launched by parent company TrustToken, whose co-founder and CEO is Rafael Cosman.

Cosman has a lifelong attachment to cryptography, studying it along with artificial intelligence (AI) before working at both Google Brain and software company Palantir. He left Google to create TrustToken in 2017.

How Is the TrueAUD Network Secured?

TrustToken aims to deliver maximum transparency using tools such as real-time auditing of TAUD’s backing and reliability.

Beyond trusting the validity of its AUD peg, any security issues relate to those which affect all ERC-20 standard tokens. Transactions, for example, can suffer from abnormally high fees if gas prices on the Ethereum blockchain spike.