The crypto exchange Huobi has announced the Launch of its own stablecoins HUSD. The joint project of Huobi, Stable, Universal, and of the Paxos Trust Company
is to on 22. July come on the market. The Partner to terminate the Token as a better Option for users of Stable-Coins – and thus as an Alternative to the market leader, Tether.
Brigitte Bernhardt
19. July 2019BTC$10.302,00 9.28%part Facebook Twitter LinkedIn xing mail
Stable Coins are crypto currencies backed by Fiat currencies, or other stable Assets. Traders use them to protect your Coins on a exchange rate losses. To “Park” his money, so to speak, in a non-volatile crypto-currency. In this way, you have quick access to it for the next Trade and saves time and fees with respect to the exchange of a Fiat currency. A detailed explanation of stablecoins our Tutorial.
think most of you should on the subject of Stable Coin is the first to Tether (USDT). The predominantly US-Dollar-backed Coin, the Platzhirsch is currencies under the stable Crypto. An Overview of the currently most important representatives in this area can be found here.
security through Stable Coins?
That there is a supposed safety Tether & co. with still some difficulty, was in the past already several times. Last Tether provided in the crypto-scene for excitement. So the company had brought five billion USDT in circulation – a Mistake, as it turned out. In the meantime, Tether has the bug, uncovered fixed by a Whale Alert, and the falsely issued Coins burned again.
Now wants to offer Huobi, with its own Stable Coin an Alternative to the Tether, said in the press statement of 17. July. The advantages of the HUSD, the company, summarizes as follows: to ensure
To the full hedge, is held every HUSD-Token in US dollars of the Paxos Trust Company in Reserve. Paxos is a Trustee and qualified Depositary Bank for the New York State Department of Financial Services (NYDFS).Full Integration of the HUSD Token in the crypto exchange Huobi Global.Easy and quick Switch from and to Fiat by a Service from the Stable Universal, the HUSD and redeemed can be bought. the the Competition between The stable Cryptocurrencies
The ERC20-Token designed HUSD will be listed on different exchanges and Wallets. Already in the autumn of 2018 Huobi presented under the name of HUSD, a concept for the Integration of multiple Stable Coins. With the solution, the user should get the possibility to unite PAX, USD, USDC and GUSD installed with automatic conversion to one platform.
Also Binance, currently the largest Bitcoin exchange, is planning, however, the publication of a private Stable Coins. The company announced a 100-percent coverage of the British pound. Therefore, also close to the name of the Coins: Binance GBP.
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More:
Single Point of Failure: Tether prints accidentally 5 billion USDT, New York prosecutors submit new evidence in the case of Bitfinex in Singapore wants VAT on Bitcoin-swipe transactions#Huobi#Stable Coin#Tether
