TrustToken allows you to send money via bank wire to receive TUSD into a specified address. You can specify your unique deposit address that is shown on the Invictus platform.
Create your TrustToken Account
Once your account is verified, select "I am using my own ERC20 wallet"
When asked for an Ethereum address, enter your unique TUSD deposit address. This is shown after choosing which linked address your fund tokens will be sent to
Instruct your bank to wire USD to TrustToken’s SWIFT account
What is TrustToken?
TrustToken, operated by TrueCoin LLC, is a stablecoin provider and offers bank transfers to purchase TUSD (and their other products) on their platform. TrueCurrency tokens (such as TUSD) are fully backed by the currency used to purchase them at issuance, cash equivalents, short-term government securities, or liquid investments denominated in the same underlying currency.
TrustToken was founded in 2017. The team comes from Stanford, UC Berkeley, Airbnb, Goldman Sachs, PayPal, and Google, and the project is backed by a16z crypto, BlockTower Capital, Danhua Capital, Founders Fund Angel, GGV Capital, Jump Capital, Stanford-StartX among others.
Fees and limits
TrustToken does not take responsibility for fees. Your bank or service may charge you a wire fee for transactions. Depending on the bank/service, the fees may vary widely and this is something to keep in mind. No fees are otherwise charged by the platform
Any fees incurred by you during the purchase or redemption of a TrueCurrency product shall be deducted from the amount being purchased or redeemed before the balance is transferred to you
A $1,000 USD minimum applies per transaction
Wire transfers through TrustToken can take in between one and five business days to complete.
TrustToken account verification process
The platform uses an enterprise-grade KYC/AML system to meet all customer identification and anti-money-laundering requirements. In order to invest through this method, you need to create a separate account on the TrustToken platform and complete their verification procedures.
Security and regulation
TrustToken has published an article on their regulatory paradigm, you can find it here. In short, TrueCoin LLC is regulated at the federal level in the United States, as a money service business (MSB). TrueUSD is also subject to regulatory scrutiny by the state trust regulator in Nevada, DBI.
Each month TrueCoin LLC publishes proof of funds from Cohen & Co, an independent third-party U.S. certified public accounting (CPA) firm. The attestations are conducted in accordance with the attestation standards established by the American Institute of Certified Public Accountants. TrueCoin LLC's legal obligations prevent it from minting tokens until the system has received a signed verification from a banking partner, verifying that the corresponding dollars have arrived in a TrueUSD escrow account.
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