NEW YORK, Nov. 27, 2018 /PRNewswire/ -- At the Stablecoin New York conference on November 26, Joshua Goodbody, General Counsel of Huobi's Global Institutional team, offered insights on the role stablecoins play in the digital assets market, how they serve as a fundamental bridge between the fiat world and the world of cryptocurrencies, and how they function as a frictionless store of Fiat value.
It is for all these reasons that Huobi recently launched HUSD, its comprehensive stablecoin solution, which incorporates Paxos Standard Token (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollar(GUSD). "We believe the recent developments of stablecoins are positive for the industry and Huobi decided to support these developments proactively by launching HUSD," Goodbody said. "HUSD acts as a stablecoin aggregator. We provide the ability to deposit any of the four supported coins as HUSD and receive a 1:1 balance of HUSD which can be stored as well as traded against six pairs on Huobi Global. Users are also able to withdraw HUSD as any of the four applicable stablecoins."
Among other benefits, HUSD allows users to both reduce risk and save on conversion fees.
Since its launch, HUSD has proved popular amongst users. Goodbody adds, "The product's flexibility is a key driver for us, as we are committed to improve trading experiences for clients. We have been overwhelmed by our customers' reaction to HUSD and it reinforces our belief that stablecoins are a stabilising force in the market."
Stablecoin New York was organized by BECON, which is dedicated to advancing blockchain technology and education.
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Consisting of ten upstream and downstream enterprises, Huobi Group is the world's leading blockchain company. Established in 2013, Huobi Group's accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries.
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