In 2019, Singapore-based cryptocurrency exchange Huobi announced it was going to make a dollar-backed stablecoin. Together with Stable Universal and Paxos Trust Company, HUSD Token was born. It’s Huobi Global’s first regulated stablecoin and offers users of the Huobi ecosystem a safe, secure and stable option for transactions.
Every single dollar backed by the HUSD Token is held in Paxos Trust Company reserves. As many may know, Paxos Trust is New York State Department approved and has helped several other companies create legitimate stablecoins. With the addition of HUSD, Huobi finally added an official stablecoin to their exchange, which is one of the most liquid cryptocurrency exchanges in the world.
HUSD is not to be confused with Huobi Token (HT). HT is a utility token used on the Huobi exchange and is not backed by any fiat currency whatsoever. HUSD is the exchange’s fiat-backed stablecoin that allows for efficient on and off ramps for users.
YouHodler aggregates prices from top centralized exchanges to provide an accurate HUSD price and charts.
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