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The issuer of TUSD will use Chainlink's proof of reserves verification system

2023-02-22 21:28:04
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ChainCatcher news, TUSD issuer Archblock announced that it will use Chainlink's proof of reserves verification system, allowing users to automatically verify whether their reserves are fully collateralized through provided data.

Independent accounting firm The Network Firm (TNF) will provide dollar data held by financial institutions for Chainlink. With the data provided by Chainlink, TUSD smart contracts will automatically check whether the total supply of TUSD exceeds the total amount of reserves in dollars before minting any new stablecoins. (source link)

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