TrueUSD (TUSD) at a glance: 5.05/10 in July 2026
TrueUSD (TUSD) is a stablecoin issued by Techteryx, pegged to the US dollar via fiat + treasuries. On our six-criterion composite for stablecoins, it ranks below USD Coin (USDC) and USDS (Sky) while sitting above USDD (TRON) in our current composite.
Stablecoin scoring weights collateral quality, transparency, and depeg history heavily — combined they represent 55% of the composite. For any stablecoin holding meaningful capital, these are the questions that determine tail risk.
Transparency and audit posture
Real-time attestations by Chainlink Proof of Reserve. Legal custody transparent. Ownership changed to Techteryx in 2023 with some opacity around new ownership.
Transparency is the single strongest predictor of stablecoin trust. Public quarterly audits by Big Four accounting firms (or better, full SEC filings from publicly-listed issuers) rank highest. Attestations are lower-tier but still meaningful. Opaque or infrequent disclosure is a persistent risk flag.
Regulatory posture
Registered in Bahamas. No US or EU meaningful registration.
Regulatory registration matters both for user access (can you legally hold this stablecoin in your jurisdiction?) and for issuer resilience (can the issuer survive a hostile regulatory action?). MiCA compliance is the current baseline for EU access; NYDFS oversight is the strongest US signal.
Collateral quality
Reserves per Chainlink PoR. Some concerns raised about custody arrangements in 2023-2024.
Collateral composition determines what happens if the issuer needs to redeem all stablecoins at once. Pure cash + short-duration US Treasuries is highest-quality — instantly liquid, minimal duration risk. Commercial paper, secured loans, or crypto-backed collateral carry additional risk that only matters until it does.
Peg stability history
Depegged to $0.94 in January 2024 amid rumors about reserve quality. Recovered but with volatility.
Depeg events are the most-visible stablecoin failure mode. A stablecoin that has held peg through multiple stress events (Terra collapse 2022, SVB crisis 2023) has meaningfully demonstrated its design vs one that has not been stress-tested.
Supply scale and adoption
Circulating supply of $482.73M — small stablecoin; limited liquidity and exchange coverage. Top-10 stablecoin — supported on most major exchanges but not always available as primary pair.
Larger supply usually correlates with better acceptance across trading venues and DeFi protocols. But it also concentrates issuer risk — a failure of a top-3 stablecoin would create systemic pressure across all of crypto.
Who TrueUSD (TUSD) is for — and who should look elsewhere
Best fit: Users with specific ecosystem preferences that TrueUSD (TUSD) serves — verify regulatory status in your jurisdiction before large positions.
Look elsewhere if: TrueUSD (TUSD) is less suitable for users whose primary priority is supply or transparency.
Direct alternatives worth comparing: USD Coin (USDC) and USDS (Sky) score higher on our composite. See Best Stablecoins.
