What Is TrueCAD (TCAD)?
TrueCAD is a Canadian dollar stablecoin pegged to CAD at 1:1. First launched 2019,
TrueCAD is one of a number of cryptocurrency stablecoins administered by TrustToken, a platform for tokenizing real-world assets.
As with other stablecoins, TrueCAD 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 Canadian dollar-backed stablecoin, TrueCAD, is one of several currencies TrustToken launched to open up new opportunities for payments, international remittances, and foreign exchange.
Who Are the Founders of TrueCAD?
TrueCAD 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 TrueCAD Network Secured?
TrustToken aims to deliver maximum transparency using tools such as real-time auditing of TCAD’s backing and reliability.
Beyond trusting the validity of its CAD 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.
Sub Asset Class
United States of America