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Stablecoin TrueUSD Owner Techteryx to Take Full Control of Operation

Techteryx assumed "full management full management of all offshore operations and services related to TUSD," on July 13

By Jamie Crawley
AccessTimeIconJul 14, 2023 at 11:35 a.m. UTC
US banknote image via Shutterstock
US banknote image via Shutterstock
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The owner of the stablecoin TrueUSD (TUSD) have taken full control of its operation more than two and a half years after purchasing it from crypto firm ArchBlock.

Techteryx, a British Virgin Islands-incorporated firm, bought the business in December 2020, since then the previous owner ArchBlock has continued to manage its operations.

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    • Techteryx assumed "full management full management of all offshore operations and services related to TUSD, including minting and redemptions plus customer onboarding and compliance," on Thursday, according to a post on TrueUSD's Twitter account.

    TUSD is the world's fifth largest stablecoin with a market capitalization of just over $2.8 billion, according to data by CoinMarketCap. Its prevalence has been boosted this year by support from Binance. In March, the world's largest crypto exchange eliminated zero-fee trading for buying and selling of bitcoin on several asset pairs, but kept it for TrueUSD.

    Read More: Crypto Markets ‘Highly Dependent’ on Stablecoins Lacking Transparency, TUSD Poses Risk: Kaiko

    Edited by Parikshit Mishra.


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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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