YouHodler Introduces stablecoin HUSD to its Ranks
YouHodler, along with FinTech startup Stable Universal, are pleased to announce that YouHolder will bring the stablecoin HUSD to its users. This U.S. dollar backed stablecoin will be made available via YouHodler’s “Savings Account” Program (terms and conditions apply) where users can deposit HUSD into their YouHoldler Wallet for earned interests up to 12% APR.
Each HUSD token backed 1:1 by USD
Stable Universal guarantees that each HUSD token is fully backed by U.S. dollars and held in reserves by Paxos Trust Company with monthly attestation reports conducted by an independent U.S. audit firm. Paxos Trust Company is a fiduciary and qualified custodian licensed by the New York State Department of Financial Services (NYDFS). This arrangement provides oversight, risk management, and auditing to the stablecoin, giving customers a better peace of mind that their assets are ensured to be secure and stable.
HUSD can be traded on Huobi Global, one of the world’s largest and most liquid cryptocurrency exchanges, in addition to seven other exchanges and DEXs including Hotbit, HBTC and Tokenlon.
“Providing the best options to our community is always the number one priority here at YouHodler,” said Ilya Volkov, CEO of YouHodler. “We are honored to welcome Stable Universal to our project and look forward to bringing the innovative HUSD token to growing userbase. It’s been inspiring to watch the growth of the HUSD token over the last couple of years and we know our community will love its simple, reliable and efficient mechanics.”
Earn 12% interest on HUSD deposits
According to YouHodler’s official “Savings Account” Program, after depositing HUSD to YouHodler, users can earn up to 12% APR with HUSD Savings Accounts, the highest interest rate out of any platform. From HUSD Savings Accounts, users can then easily transfer funds to use in YouHodler’s Multi HODL tool.
Multi HODL is a tool that lets users garner profit crypto using loans that automatically help users buy or sell crypto depending on which direction they choose (via “up” or “down” buttons). Essentially, this allows users to easily long or short their crypto assets and manage their risk effectively via a sliding “profit/loss” interface.
Volkov states that
“MultiHODL is our most popular tool on the platform and a very easy transition from the savings account. Users who love our savings accounts can boost their interest rates even more via MultiHODL while still earning 12% on their stablecoin deposits. It’s a user-friendly way to benefit from market movements in all directions and users can risk as much or as little as they choose.”
HUSD is available today on YouHodler via Savings Accounts, Multi HODL, and conversion.