LeewayHertz Announces the Launch of Armanino's TrustExplorer, a Platform for Real-Time Confirmation of TrueUSD's Funds
NEW YORK, August 20, 2019 (Newswire.com) - LeewayHertz has recently announced the launch of a new blockchain-based platform, TrustExplorer, which brings trust and transparency to TrueUSD (TUSD) stablecoin by allowing users to have a real-time view of the U.S. dollars backing it. Built on the blockchain, TrustExplorer works as a Trust-as-a-Service for TrustToken. The platform connects with escrow bank accounts holding TrustToken's collateral as U.S. dollars and runs Ethereum nodes to track the supply of TUSD.
TrustExplorer is the first platform of its kind to use blockchain technology itself to solve trust issues for stablecoins, a cryptocurrency backed by fiat held in a bank or trust company. The platform is an Armanino-owned software solution that provides stablecoin projects and their holders with a high level of transparency and trust by offering a real-time view of tokens in circulation and associated collateralized fiat currency backing them.
Armanino is one of the top 25 independent business and accounting consulting firms in the USA. They have been providing audit, tax and consulting services to privately-held companies, nonprofit organizations and public companies for over 50 years.
Armanino worked with LeewayHertz to build a real-time dashboard to monitor the supply of TrustToken's stablecoin TrueUSD (TUSD). Noah Buxton, Director and a member of the team leading Armanino’s TrustExplorer offering, added, “We looked long and hard for a technology partner that could bring the necessary web application and blockchain experience to bear on this unique problem. The LeewayHertz team understands where we want to go and has helped us get there.”
In TrustToken’s own announcement, Rafael Cosman, TrustToken co-founder and head of engineering and product said, “This sets a new standard not only for stablecoins but for all tokenized assets in the future. With the real-time confirmation of funds provided by one of the world’s leading accounting firms, traders will know at all times that their tokens are backed by real-world value.”
LeewayHertz, one of the leading blockchain development companies, developed a public blockchain platform using Ethereum to allow anyone to track the supply of TrueUSD stablecoins and verify collaterals backing them.
Established in 2007 and headquartered in San Francisco, LeewayHertz was one of the first to deliver a commercial application for the iPhone. The LeewayHertz team of Certified User Experience and Blockchain Development experts has designed and produced over 100 enterprise-grade digital platforms for both startups and enterprises which are being used by millions of users across the world.
The team of blockchain developers at LeewayHertz have potential to work on various blockchain platforms including Ethereum, Hyperledger Fabric, Hyperledger Sawtooth, Hyperledger Indy, Hedera Hashgraph, EOS, Stellar and R3's Corda. They have successfully deployed more than 80 Smart Contracts and worked on 20+ Blockchain Projects.
Armanino is one of the top 25 largest independent accounting and business consulting firms in the United States. Armanino has been in business since 1953 and is a nationwide leader in serving privately-held companies, as well as, nonprofit organizations and public entities. We have provided audit, tax, and consulting services to crypto-native companies and exchanges since 2013. We provide five main areas of service — Audit, Risk Assurance & Advisory, Tax, Consulting and Business management. We also have a dedicated team that services our blockchain and crypto clients.
TrustToken is creating a more efficient and inclusive global financial system by digitizing assets that can be seamlessly and securely exchanged across liquid markets worldwide. TrueUSD (TUSD), a stablecoin redeemable 1-for-1 for U.S. dollars and the industry’s pioneer in using third-party trust companies and independent accounting firms, is the first product on TrustToken’s platform. TUSD offers the transparency, liquidity and redeemability required in the crypto-economy, and it has the most traded of all fully-collateralized and independently validated stablecoins.