Stablecoin issuer TrueUSD has recently announced that it is working tirelessly to resume the minting of TUSD on Prime Trust. According to the latest announcement the resumption of operations to ensure a stressfree experience for its users. Previously, the minting of this stablecoin on Prime Trust was pioneered when the company was caught up in rumors about going bankrupt and selling it to Bitgo.
“TUSD minting and redemption services remain unaffected and will continue to operate as usual,” the TUSD team announced, “We want to assure you that our partnerships with other banking institutions remain intact, allowing for seamless transaction”.
Throughout these developments, the TUSD team has shown a clear commitment to transparency, regularly updating their user base and expressing appreciation for their patience and support. The team has further promised to provide prompt updates as the situation evolves.
“We appreciate the patience and support of our community during this process and will provide updates as soon as new developments occur. Thank you for your trust in TUSD,” they shared
However, at the end of previous week, the market saw a severe peg loss of TUSD following the announcement of a moratorium on mining through Prime Trust and the impact of SEC lawsuits against crypto companies
Meanwhile, the temporary pause with Prime Trust operations has introduced some inconvenience, the proactive measures taken by the TUSD team to address and rectify the situation demonstrate their dedication to their users.