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TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of Stablecoin Minting

On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization. The POR data feed is a smart contract that automatically checks “whether the total supply of TUSD would exceed the total amount of U.S. dollars held in reserve before any new stablecoin is minted.” According to a statement by Ryan Christensen, the CEO of Archblock, the firm is looking forward to using Chainlink’s POR technology to improve transparency and verifiability. (Bitcoin.com)

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