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Rachel Welch

18 November 2022 135 Read Altcoins

What Is VeUSD?

VeUSD is a cryptocurrency based on the VIP-180 token standard. It maintains a peg with the USD while utilizing VeChainThor digital cash. It is a stablecoin that can be traded on exchanges like Vexchange and Stably Prime. Its popularity has caused many other cryptocurrency exchanges to list it as well.

VeUSD is a stablecoin, which means that its value is guaranteed to hold its value over time. Stablecoins are tied to a real currency, most often the U.S. dollar, and the value of one VeUSD is equal to one unit of the real currency. To maintain this stability, VeUSD users must deposit collateral to mint new VeUSD. These reserves are redeemable at a 1:1 ratio.