Huobi unveils HUSD in the stablecoin segment: this is what the new project of the second most important exchange in the world consists of.
Huobi, the world's second most important cryptocurrency exchange by trading volume, has announced the launch of HUSD, not a real stablecoin, but an integrated solution that contains multiple "stable" coins. The goal is to prevent traders from having to choose between multiple currencies, and many exchanges, including Huobi, now trade in numerous stablecoin, often paired with each other.
Huobi he explained that “when depositing any type of stable currency, these will be shown as HUSD in your account. You can withdraw any type of stablecoin.... For example, when you deposit 1 PAX, it will appear as 1 HUSD in your account, and you can withdraw 1 TUSD. Since stablecoins can generally be relied on to join the US dollar, the solution should save Huobi and his customers. Initially, PAX, TUSD, USDC and GUSD will be incorporated under the HUSD umbrella "- said the exchange.
The Singapore-based operator then added that “we can't wait for the HUSD system to involve more stablecoin. Simultaneously, we will evaluate the existing steco-inins in the HUSD system in real time, if the stable currency does not meet the corresponding risk control standard, we will remove it. "
Recall that the number of cryptocurrencies that can be used as collateral is constantly growing.