Unodax Listed TUSD (True USD) as a base-coin

The TUSD coin is listed for trading on trading exchanges globally like Unodax and is paired with a few major cryptoassets like BTC, ETH, BNB, KRW, and USDT.

TrueUSD is the first asset token by TrustToken. TrueUSD is the first stable coin built on the TrustToken platform

The project was founded by the trifecta of Rafael Cosman, Stephen Kade, and Danny An. The project has brought in talent from Stanford University, Berkeley, Google, and Palantir. The team has legal backing from WilmerHale and Arnold & Porter, and there will be monthly reports on liquidity by Cohen & Company.

Every TrueUSD is always 100% collateralized by USD, held in professional trust firms’ banks. Transact directly with the trust firm’s bank. The TrueUSD system never touches the funds.

The TrustToken Platform bridges real-world assets and blockchains, enabling trustworthy asset tokenization.

The new asset is the first asset-backed stable coin by the Trust Token project. The service, True Coin, links bank funds in escrow with the issuance of the token.

Beyond serving as a liquidity token on exchanges initially, TUSD may also be used for e-commerce, by being available for international transfers without exchange rate risk.

To increase the amount of security, fiduciaries, and banks directly handle all the funds. Escrowed funds do not give access to the TrueUSD system.

An individual or an institute is allowed to redeem TUSD for USD after getting a verified account on TrueCoin that has also passed a standard AML/KYC check.

The market cap ranking of the TUSD cryptocurrency is beyond 100 as of June 2018, and it holds a market capitalization of $72.6 million as of the same time. A total number of 72,892,045 TUSD coins are in circulation.

The one major things thing that makes TUSD different from few major digital currencies is that it is a stable coin.

An update regarding INR deposits and withdrawals

Dear Unocoin users,

We have always believed in offering our customers with the best and most secure blockchain services. Since December 2013, our team has been serving the Indian bitcoin and blockchain community by continuously innovating:

  • Industry-leading Crypto-Assets and Blockchain company offering two market-leading platforms: Unocoin, an online brokerage for trading bitcoin, and Unodax, an order matching crypto exchange.
  • Providing 24×7 customer support by email and telephone.
  • Unique buying plans such as SBP (systematic buying plans) & OTC (over the counter) along with multi-tier membership programs.
  • Introducing new features such as Crypto Basket, etc.

We are all aware of the RBI’s recent stance issued about the discontinuation of services by RBI regulated entities (banks/ payment gateways) for the purchase and selling of cryptoassets.

Due to the RBI’s recent notification on ‘Prohibition on Dealing in Virtual Currencies’, our banking relationships are likely to be disrupted on or before July 5th, 2018. We are in the process of deploying new mechanisms for INR deposits and withdrawals. This is not a small undertaking and it will take us some time to deploy new solutions, please do not panic. Until further notice from our team, customers may continue INR deposits and withdrawals from Unocoin through normal banking channels as long as our bank accounts are functional beyond which the bank accounts based deposits and withdrawals of INR won’t be available till the RBI’s notice stay effective.

Regards

Team Unocoin

 

Update on 3rd July 2018:

RBI vs Cryptocurrency Exchanges: Supreme Court to Hear Plea on 20th July

The holiday bench of the Supreme Court has refused to hear the plea for interim relief. The hearing is set for the 20th of July. Banking services are expected to be revoked this week. We would like to let you know that this is not a ban on Cryptoasset and a policy in this regard is expected in the near future. However, if you are withdrawing or depositing any rupees in Unocoin, there could be a time when we may not honour such requests. Please continue to trade once you have understood the risk.

Unocoin launches UNODAX, a live order-book trading platform for active traders

New Delhi, May 31, 2018: India’s leading bitcoin and crypto-assets exchange, Unocoin announced the launch of UNODAX. Simplifying its offerings, UNODAX is a dedicated platform for live order-book trading of various altcoins, supporting the growing ambition of highly active crypto traders with an extensive range of tools and functionalities.

 

UNODAX supports multiple crypto-assets and provides crypto trading enthusiasts with unlimited order validity and transparent order depth. Following a maker-taker fee model, it provides exclusive maker benefits. The maker fee is only 0.4%, while the taker fee is also reduced to 0.6%. UNODAX is accessible through a web portal, Android and iOS app.

 

Commenting on the launch, Sathvik Vishwanath, Co-founder and CEO, Unocoin said, “It is a crucial step for us to announce the launch of UNODAX and simultaneously, establish two distinguish and dedicated platforms for two of our fundamental offerings. While Unocoin will support bitcoin wallet services, UNODAX is exclusively meant for crypto trading enthusiasts, making available a range of dedicated services, tools and functionalities. Its launch follows our vision of simplifying the process for users and achieving better scalability and performance. We have also ensured a smooth transition for our existing users, without them suffering any hiccups in the process.”

 

With the launch of UNODAX, Unocoin has taken the crucial step of distinguishing two of its core products, in order to achieve better scalability and performance. The differentiation is followed by a UI upgrade as well. In addition to UNODAX, Unocoin serves as a bitcoin wallet and brokerage service platform. It will preserve the broader game to promote and flourish the use of bitcoin and build a robust ecosystem for cryptoassets with a range of services, including systematic buying plan, merchant gateway, mobile and DTH payments, bitcoin wallet service and auto-selling bitcoin receivables.

 

This migration of exchange platform to UNODAX is being performed without any hiccups to Unocoin users. With both domains and services running on the same Unocoin backend servers, users will retain their login credentials and transaction history across the sites. For a user, nothing changes — except for the fact that you now get distinct websites that aim for speed and performance.

 

For more details, visit: www.unodax.com

Android app: https://goo.gl/VQEJJZ

iOS app: https://goo.gl/5KY5RF

Regarding the press release by RBI on 05 April 2018

Dear Customers,

This is w.r.t. the press release issued by RBI on 5th April 2018. As per the notice, RBI has decided to axe the relationship between it’s regulated bodies (Banks) and any individual or business entities dealing with cryptocurrencies. The Banks that are already working with cryptocurrency companies are given a timeline of 3 months to cease the support.

As a company, we want to clarify and assure you few things. Please note the notice issued doesn’t talk about the legality of cryptocurrencies as such and hence the legality status of Bitcoin or other crypto-currencies In India remain unchanged. This decision of RBI’s was more in line with it’s earlier statements on the risk associated with the cryptos.

We just want to assure you that your funds (INR, BTC and other cryptos) are absolutely safe with us as ever and there is no need to worry about their safety. As always, you can still continue to use our platform as before and if need be you can still withdraw your funds.

As on today, no banks (that we are working with) have issued any notice to us and when they do and if it has an impact on you and /or us, we will surely communicate to you.

 

Sathvik V

CEO, Co-founder

Unocoin

Unocoin launches Multi-Cryptoasset Exchange

~ Multiple cryptoassets to include Bitcoin Gold, Bitcoin Cash, Litecoin, Ripple, Ethereum, and Bitcoin

~ As an introductory offer, Unocoin brings Zero percent trading fee till 28th February 2018

Bangalore, February 20, 2018 – Underlining its focus on ensuring seamless and convenient trading of digital assets, Unocoin, India’s leading cryptocurrency exchange, has now launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application. The new feature on the platform is currently built to support six major cryptoassets, i.e. Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released and further plans to support trading of other crypto assets in the near future. Unocoin is also bringing an introductory offer under which there would be Zero percent transaction fee till 28th February, 2018.

The launch of the new updates, along with its existing Bitcoin trading services, further strengthens Unocoin offers for its users. The crypto-asset exchange aims to plug the surge in demand for digital asset trading by providing a highly transparent price discovery mechanism with minimal spreads between buyers and sellers through its enhanced platform. In addition, users will have the option of making both deposits and withdrawals in the corresponding crypto assets, thus enabling them to hold and transact digital assets in different crypto assets directly from their Unocoin wallet itself. With the adoption of the maker (fee 0.4%) & taker (fee 0.6%) model, the platform now also offers a reduced fee structure on purchase and sale of cryptoassets. In addition, users will now be able to take charge of price dictation, vouch for their desired price levels, and even trade beyond their daily limits through the new model 

Commenting on the launch, Sathvik Vishwanath, Co-founder, and CEO, Unocoin said, “Millions of Indians have already turned to digital assets like bitcoin as a reliable means to invest and transfer money. Therefore, the new Unocoin platform will bring a significant edge to both new, and existing users’ cryptoasset transactions, supported by a reduced fee structure on trades.” 

Incepted in 2013, Unocoin has been at the forefront of the bitcoin revolution in India. It was the first company in India to offer a full-featured mobile bitcoin app, with 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. The company currently operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin.

Scan the below QR code or goto http://unoco.in/app from your Android phone or iPhone to download the app and start using it.

About Unocoin: 

Started in 2013, Unocoin is a Bangalore based technology startup and is India’s first entrant into the cryptoasset industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin. Every month, Unocoin processes transactions worth more than INR 2B for its 1Million+ customers. In just 4 years since inception, the company has drawn more than 30 top investors from 5 countries. Unocoin is responsible for industry-leading innovations such as the Bitcoin Systematic Buying Plan(SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The-Counter trading (OTC). In September 2016, Unocoin has raised $2 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital, Huiyin Ventures and FundersClub to move faster towards its vision of Making Money Simple through its mission Bringing Bitcoin to Billions. 

For further information, log on to: www.unocoin.com