TrustToken, a San Francisco, CA-Based Platform Raises $20M in Strategic Funding

By StartUp City

TrustToken, CA-based platform for asset-backed tokens, brought $20M up in strategic funding.

Led by Andreessen Horowitz, Jump Capital, ZhenFund, Distributed Global, Slow Ventures, Danhua Capital, GGV Capital BlockTower Capital, and others.

The organization expects to utilize the funds for the improvement of the TrustToken asset tokenization platform and extension of its lawful, associations, products, and departments of engineering.

CEO Danny An leads TrustToken as it gives a stage that uses blockchains to create asset-backed tokens that can be purchased and sold anywhere across the world. Its first product, TrueUSD, is a cryptocurrency focused on security. Each TrueUSD token is redeemable for $1 USD through the organization's web portal.

Right now TrueUSD CAN be exchanged on and over the world's top cryptocurrency exchanges, for example, Binance, Bittrex, and Upbit.

Since starting its journey in March 2018, TrueUSD's market capitalization has developed to over $60 million, with a normal day by day exchanging volume of $22 million.