Introducing simplicity and ease: TUSD stablecoin market! Trading on Koinex and Loop gets better with TrueUSD
We began this new year with a strong objective: strengthening our commitment to the users and the community. We’re glad to announce the new refinements of our trading platforms Koinex and Loop: introducing simplicity and ease of use, two critical aspects of digital assets trading.
TrueUSD on Koinex and Loop
TrueUSD (TUSD) is a US dollar-backed ERC20 stablecoin that is fully collateralized, legally protected and transparently verified by third-party attestations. While we’ve had TUSD trading pairs on Koinex since July 2018, we’re restructuring our markets and offerings to make it simpler and easier to trade. On Koinex, we’re replacing our current crypto-to-crypto markets (BTC, ETH, and XRP) with the TUSD stablecoin market. On Loop, we’re adding support to TUSD along with the existing digital assets (BTC, ETH, and XRP), allowing users to directly exchange TUSD with INR.
How does this make things better?
Koinex will now have only two trading markets for all supported cryptocurrencies and tokens: INR and TUSD. The INR fiat currency market enabled through our efficient peer-to-peer deposit-withdrawal mechanism and the stablecoin crypto-to-crypto market enabled through TUSD means there is full scope for stability in trading at all times. It also means that our users will now deal with two major base pairs only (INR & TUSD), giving them the power to retain value, earnings, and profits at zero risk in either a fiat currency or a stablecoin.
Loop — our peer-to-peer trustful token transaction network — will also support TUSD. As part of a connected ecosystem with Koinex, having a direct fiat currency access to a stablecoin practically means that there are multiple ways to enter the crypto world. Loop will now be more useful to all users, be it the new entrants or experienced traders.
Important announcements regarding the introduction of TUSD
- BTC, ETH and XRP markets on Koinex will be discontinued from 9:00 PM IST, 24th Jan 2019 and TUSD market will be introduced in their place.
- Support for TUSD on Loop will commence from 9:00 PM IST, 24th Jan 2019 in addition to BTC, ETH, and XRP.
- Users will be required to cancel all open/ unfulfilled orders in BTC, ETH and XRP markets before 8:00 PM IST, 24th Jan 2019. All trading activity will be suspended from 8:00 PM to 9:00 PM on 24th Jan 2019, after which the said orders will automatically be canceled, and the cryptocurrencies will be credited to the respective Koin Wallets.
We request all the users to take note of these announcements and plan their trading activities accordingly. As always, we’re glad to have your love and support. Happy trading!
BTC, ETH and XRP markets on Koinex will be replaced by TUSD stablecoin market at 9:00 PM IST, 24th Jan 2019. TUSD will be supported on Loop from 9:00 PM IST, 24th Jan 2019.
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