Cryptocurrencies: 2835 / Markets: 20798 Market Cap: 24h Vol:
Cryptopolitan
2019-07-18 17:48:32

Huobi partners Paxos and Stable Universal for USD backed stablecoin launch

Cryptocurrency exchange Huobi has partnered with two firms, Stable Universal Limited, a U.S.-based crypto startup venture and Paxos trust to launch a United States dollar-backed stablecoin token HUSD. To ensure full backing of every HUSD Token and regulatory oversight, the dollars backing HUSD Token will be held in reserve by Paxos Trust Company, a fiduciary and qualified custodian regulated by the New York State Department of Financial Services (NYDFS). Livio Weng, CEO of Huobi Global, commented, “Providing better options to our users has always been one of our biggest priorities at Huobi. We are proud to partner with Paxos and

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