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FOR IMMEDIATE RELEASE

HKDT: Just another replica of USDT?
A trusted stable coin over a trustless decentralized network

[Hong Kong, April 11, 2018] Tranchor has announced the launch of HKDT in Q2 2018. HKDT is a stable coin that the price of each HKDT is benchmarked to 1HKD. HKDT is compared to another stable coin Tether USDT, which is claimed to be exchangeable into US Dollar.

While USDT is the world's most widely adopted stable coin with constant voluminous trade, its transparency and trustworthiness has become a major controversy in the crypto community. There has been online critics alleging that, "Tether has been issuing more USDT than it has dollars in the bank." Tether has always been asked for audit to prove that for every 1 USDT, 1USD existed in their reserve. However, no audit has been carried out. This has raised even more suspicion of whether all this USDT is backed by actual fiat currency as officially stated. The Wolf of Wall Street, Jordan Belfort, in an interview with The Street has called Tether a "massive fraud".

As for Tranchor, 70% of the sales proceeds of HKDT will be put under Tranchor Trust in form of real world assets. This makes sure that Tranchor cannot issue HKDT crazily without anyone paying to buy. Tranchor has written in its trust deed that Tranchor Trust will be audited semi-annually by an international audit firm. On the other hand, the Board of Trustees is formed to monitor the assets and supervise Tranchor Trust in accordance with the trust deed. Tether has been criticized for its lack of transparency. On the contrary, HKDT reinforces its transparency, trustworthiness and provides confidence to the market.

Confidence is the fundamental pillar for a stable coin. Tranchor believes blockchain will revolutionize the future and the need for a trusted stable coin is there. Ronald Kung, the Chief Visionary and one of the early investors of Tranchor said, "Project Tranchor is to create an ecosystem which combines Tranchor self-developed blockchain, wallet and smart contract to facilitate financial transactions for businesses and individuals. This ecosystem is built around the stable coin HKDT. Without a stable cryptocurrency, it is impossible to use blockchain to enchance the efficiency of our daily lives."

About Tranchor
Tranchor is a blockchain initiative which combines a self-developed blockchain, a stable cryptocurrency, smart contracts, distributed storage and a payment channel network enabling its wide range applications in financial transactions and international trade.

Tranchor Blockchain is a self-developed distributed ledger on which smart contract can be built with an easy-to-use interface. On this blockchain, a stable cryptocurrency called "HKDT" is used for the smart contract execution and transactions.

To learn more, please visit www.tranchor.io or for enquiries, please contact Dorothy Chiu at pr@tranchor.io.

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