Huobi Global launches HUSD stablecoin

Huobi Global has launched its own stablecoin called HUSD. Huobi claims that it is an integrated solution that is targeted at multiple stablecoins as it helps to eliminate the need to choose between multiple stablecoin and at the same time, it helps saving costs when switching between stablecoins.

husd huobi

So when you deposit any stablecoin, let’s say, 1 PAX, it will be shown as 1 HUSD in your Huobi exchange account and you can take out 1 TUSD which is also a stablecoin.

Right now, four stablecoins are supported by this TUSD solution – Paxos Standard(PAX), True USD(TUSD), USD Coin(USDC)and Gemini Dollars(GUSD). Huobi plans to add support for more stablecoins in the future. At the same time, Huobi says that if the stablecoin doesn’t meet the corresponding risk control standard, we will remove it off from the HUSD system.

USDT/HUSD trading pair will be listed at 10:00 AM, October 22 (GMT+8) on Huobi Global. BTC/HUSD trading pair will be added at 18:00, Oct. 22 (GMT+8), and will list the ETH/HUSD trading pair as situation may require. Deposit and withdrawal services of HUSD will be available in the next App version.