# TrustToken, Creator of Stablecoin TrueUSD, Raises $20 Million USD in Strategic Round Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-06-18 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: TrustToken Completes $20M Strategic Round for Asset-Backed Meta Description: Token sale backed by top investment firms to build platform for asset-backed tokens. TrueUSD stablecoin market cap at $49M, daily trading volume $22M. URL: https://financedigest.com/trusttoken-creator-of-stablecoin-trueusd-raises-20-million-usd-in-strategic-roundhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd180618-1-2-1736840316905-compressed.jpg) _Token sale backed by Andreessen Horowitz, BlockTower Capital, Danhua Capital, and GGV Capital to build platform for asset-backed tokens_ > **San Francisco, CA**– [TrustToken](http://www.trusttoken.com/), the asset tokenization platform and creator of the [TrueUSD](https://www.trusttoken.com/trueusd) (TUSD) stablecoin, has successfully completed a $20 million USD strategic round, with support from leading investment firms Andreessen Horowitz, BlockTower Capital, Danhua Capital, GGV Capital, and others. The raise will support the development of the TrustToken asset tokenization platform and expansion of its legal, partnership, product, and engineering departments. Since launching in March 2018, TrueUSD’s market capitalization has grown to $49 million, with an average daily trading volume of $22 million. TrustToken CEO Danny An said: “The support of these leading [investment firms](https://www.financedigest.com/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas-sources.html "Toshiba in talks with four investment firms for strategic ideas -sources") represents a significant step towards our goal to build a compliant tokenization platform for currencies, commodities, and real-world assets. We will draw on the combined expertise and network of these firms as we grow our [industry partnerships](https://www.financedigest.com/gumgum-announces-industry-first-contextual-partnership-with-tumblr.html "GumGum Announces Industry First Contextual Partnership with Tumblr") and extend the reach of our first product, TrueUSD.” professional trading and portfolio [management to the emerging digital asset](https://www.financedigest.com/guide-to-choosing-a-digital-asset-management-system.html "Guide to Choosing a Digital Asset Management System") class. Led by Matthew Goetz, a former Goldman Sachs engineer, and Ari Paul, former [Risk Manager](https://www.financedigest.com/risk-management-redefined-navigating-post-covid-disruption.html "Risk Management redefined: navigating post-COVID disruption") at the University of Chicago’s endowment investment office, BlockTower raised $140 million USD this January to expand its digital currency hedge fund. Ari Paul, BlockTower CIO and Managing Partner, said: “Tokenization of real-world assets will produce [value much in the same way](https://www.financedigest.com/four-ways-impact-acts-as-a-source-of-value-for-startups-and-investors.html "Four ways impact acts as a source of value for startups and investors") that ‘equitization’ did. We can now buy fractional ownership in a basket of commercial office buildings or commodities via equity instruments.  Tokenization will further reduce friction in asset trading and ownership.” Danhua [Venture Capital (DHVC) is a venture capital fund](https://www.financedigest.com/carta-teams-up-with-vauban-to-launch-the-first-digital-solution-aimed-at-venture-capital-investors-creating-luxembourg-based-funds.html "Carta teams up with Vauban to launch the first digital solution aimed at venture capital investors creating Luxembourg-based funds") that primarily invests in early-stage and growth companies that have disruptive technologies and business models, large market potentials, and outstanding teams. Over the last decade, DHVC has focused on companies at the forefront of the [technology sector](https://www.financedigest.com/why-trust-and-technology-are-the-perfect-partnership-to-rebuild-the-financial-sector.html "Why trust and technology are the perfect partnership to rebuild the financial sector"), including blockchain. GGV Capital is a multi-stage venture capital firm based in [Silicon Valley](https://www.financedigest.com/kpmg-stands-by-audits-of-silicon-valley-bank-and-signature-bank-ft.html "KPMG stands by audits of Silicon Valley Bank and Signature Bank – FT"), Shanghai, and Beijing. With $3.8 billion USD in capital under management, GGV Capital has invested in more than 280 leading [technology companies](https://www.financedigest.com/the-digital-ir-revolution-how-new-technology-is-bringing-companies-and-shareholders-closer-together.html "The digital IR revolution: how new technology is bringing companies and shareholders closer together"), including Airbnb, Slack, and Alibaba. Jeff Richards, Managing Partner at GGV Capital, said: “We are thrilled to [back the TrustToken team and its global](https://www.financedigest.com/g20-to-back-global-corporate-tax-deal-says-french-finance-minister.html "G20 to back global corporate tax deal, says French finance minister") ambition to tokenize assets. One of the most significant benefits of blockchain and cryptocurrency technology is the [potential to democratize and increase global participation in financial markets](https://www.financedigest.com/case-handling-machines-market-global-size-growth-opportunities-industry-potential-segmentation-overview-trends-and-forecast-studies-2028.html "Case Handling Machines Market Global Size, Growth Opportunities, Industry Potential, Segmentation Overview, Trends And Forecast Studies 2028"). TrustToken is one of the [leading platforms](https://www.financedigest.com/platforme-leading-the-digital-fashion-revolution.html "PlatformE – Leading the digital fashion revolution") driving this concept forward on a worldwide basis, and doing it with trust at the core of its mission.” TrustToken’s [platform leverages blockchain](https://www.financedigest.com/italian-fashion-group-otb-joins-lvmh-led-blockchain-platform.html "Italian fashion group OTB joins LVMH-led blockchain platform") to create asset-backed tokens that can be bought and sold around the world. TrustToken’s first product, TrueUSD, is a stablecoin that is redeemable 1-for-1 for U.S. dollars. Each TrueUSD token is redeemable for $1 USD through the company’s website. TrueUSD can be currently traded on and across the world’s top cryptocurrency exchanges such as Binance, [Bittrex](https://bittrex.com/Market/Index?MarketName=USDT-TUSD), and [Upbit](https://upbit.com/exchange?code=CRIX.UPBIT.BTC-TUSD). For more information, visit the TrustToken website at [www.trusttoken.com](https://www.trusttoken.com/). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---