HUOBI ANNOUNCED THE LAUNCH OF A NEW TOKEN CALLED HUSD

Cryptocurrency exchange Huobi has launched a new token that supports four stablecoins — Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC) and Gemini Dollars (GUSD).

The functionality of the new Huobi token is quite simple — HUSD holders can instantly get an equal number of cryptocurrencies listed above for them.

 

Have you heard about #HUSD, Huobi Global​’s innovative #stablecoin solution?

Learn more about it with this simple infographic.

Have questions about HUSD? Leave a comment and we’ll respond!#Stablecoins #TUSD #PAX #GUSD #USDCoin @TrustToken @PaxosStandard @Gemini @circlepay pic.twitter.com/1m1THlb3Cm

— Huobi Global (@HuobiGlobal) November 28, 2018

In the conference of stablecoin in New York, Huobi General Counsel Joshua Goodbody mentioned:

“We believe that the latest developments in stablecoins are positive for the industry, and Huobi has decided to actively support these developments by launching HUSD. It acts as a stable platform. We provide the ability to place any of the four supported coins as a HUSD and get a 1:1 balance that can be stored as well as traded against six pairs on Huobi Global. Users can also withdraw HUSD like any of the four used stablecoins.”

However, contrary to his words and according to the exchange website, HUSD is trading in four pairs — against BTC, ETH, EOS and USDT. It is noteworthy that Tether is the first stable token, which Huobi did not include in support of HUSD, but at the same time put in a trading pair.

Token HUSD is not based on any blockchain network, and is intra-exchange product, therefore it’s impossible to remove.

 

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