TrueHKD is .
- What is TrueHKD?
A stablecoin issues by Trust Token which is backed 1:1 by the Hong Kong Dollar.
TrueHKD is based on similar legal and technical standards to its dollar-pegged sibling TrueUSD. The firm pledged it will hold collateralized funds in a third-party escrow account and provide regular attestations of the AUD backing by third-party accounting firm Cohen & Co.
Keen to avoid issues with transparency like those that have plagued the most popular stablecoin issuer Tether, which has never provided a full audit of its USD backing, TrustToken last month partnered with accounting firm Armanino to allow traders using its stablecoins to have a “real-time” view of the reserves backing all its tokens.
- Who is the Team behind TrueHKD?
The team behind TrueHKD is the TrustToken team. They have launched a series of stablecoins including TUSD, TGBP, TCAD, and TAUD.
- How was TrueHKD launched?
TrustToken is backed by Andreessen Horowitz’s cryptocurrency fund A16z Crypto, having raised $20 million in a strategic token sale last June. The firm has adopted the mission to act as a “bridge between blockchains and $256 trillion worth of real-world assets.”