“We have nothing to hide,” says Tory Reiss, VP of corporate development at TrustToken. Like the market’s most popular stablecoin, Tether, TrustToken’s TrueUSD is fiat-collateralized. Under this model, each token (in theory) should be backed 1:1 with a corresponding dollar in a related bank account.
This model may not play out in practice as it does in theory, however. In a recent interview with Bitcoin Magazine, Reiss’s comment summarizes the bulk of his answer to our first question: How is TrueUSD different from Tether?